Carbon-Dioxide: the gas of life!
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Australia's Central Bank Cuts Key Rate to 1.75% to Combat Disinflation
Australia’s central bank cut interest rates to a fresh record low as it moves to counter the emergence of disinflation that’s swept the developed world. Reserve Bank of Australia Governor Glenn Stevens and his board lowered the cash rate by 25 basis points to 1.75 percent Tuesday, as predicted by 12 of 27 economists surveyed. Data last week showed quarterly deflation in the consumer price index and the weakest annual gain on record for core inflation -- which the RBA aims to keep between 2 percent and 3 percent on average. Core inflation “is now unlikely to return to even the bottom of the target band” until ... (full story)