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Australian central bank keeps easing bias in place, cites drop in mining spending
By Jonathan Underhill Dec. 1 (BusinessDesk) - The Reserve Bank of Australia kept the cash rate unchanged for a seventh straight month while retaining its easing bias, noting the economy was growing at a moderate pace, keeping inflation under control, in the face of a "large de...
NZ dollar gains as upbeat data across Asia spurs US dollar selling
By Paul McBeth Dec. 1 (BusinessDesk) - The New Zealand dollar gained as a string of relatively upbeat economic data across Asia saw a continued sell-off in the US dollar, which had been triggered during Northern Hemisphere trading on weaker US housing and industrial data. T...
Reserve Bank urged to abandon inflation targeting policy by NZIER
By Edwin Mitson Dec. 1 (BusinessDesk) - The Reserve Bank should abandon targeting inflation because the 25-year-old policy is no longer fit for purpose in the modern economic environment, the New Zealand Institute of Economic Research says. The Reserve Bank adopted the the...
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