HiFX Pty Ltd | RBA increase key cash rate to 3.75
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RBA increase key cash rate to 3.75


1 December 2009

Australia 's central bank increased its key cash rate by 25 basis points to 3.75 percent on Tuesday, the third hike in as many months as it continues to scale back emergency easing. The RBA said in Australia, the downturn was relatively mild, and measures of confidence and business conditions suggest that the economy is in a gradual recovery. The effects of the early stages of the fiscal stimulus on consumer demand are fading, but public infrastructure spending is starting to provide more impetus to demand. Prospects for ongoing expansion of private demand, including business investment, have been strengthening. There have been some early signs of an improvement in labour market conditions. The rate of unemployment is now likely to peak at a considerably lower level than earlier expected.

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