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Australia's Economy Beats Forecasts
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03.06.2015
Australia's economy grew at a better-than-expected 0.9% in the first quarter of 2015, compared to the previous quarter.
Forecasts were for quarterly growth of between 0.5% and 0.7%. Despite pressure from the business community, the country's central bank did not cut its lending rates to help boost the economy. The decision saw Australian stocks fall 1.72% as investors saw little hope of a further cut in the near future. Australia's economy has been adjusting to a post-mining landscape. It saw its economy grow 0.5% in the October to December 2014 period from the quarter before, when growth was 0.4%.
Forecasts were for quarterly growth of between 0.5% and 0.7%. Despite pressure from the business community, the country's central bank did not cut its lending rates to help boost the economy. The decision saw Australian stocks fall 1.72% as investors saw little hope of a further cut in the near future. Australia's economy has been adjusting to a post-mining landscape. It saw its economy grow 0.5% in the October to December 2014 period from the quarter before, when growth was 0.4%.
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