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Treasury sticks by its forecasts, despite Greek deterioration
June 05 (BusinessDesk) - The Treasury is sticking by the forecasts it published in last month's Budget, saying the Greek crisis had worsened the risks of lower growth, but its "central scenario" for growth "remains valid at this stage." The comment is in the economics departmen...
RBA cuts cash rate another 25 basis points as global market sentiment deteriorates
By Paul McBeth June 05 (BusinessDesk) - The Reserve Bank of Australia cut 25 basis points from its target cash rate as deteriorating market sentiment and an uncertain international environment keep interest rate expectations low. The RBA cut its benchmark interest rate to 3.5...
MARKET CLOSE: NZ shares fall as investors mull risk of increased rivalry for Telecom
June 05 (BusinessDesk) - New Zealand shares fell, as the weight of Telecom, the biggest company on the exchange, held back the NZX 50 Index in the face of a region-wide rebound. Telecom rivals Telstra and Vodafone today confirmed they're in talks to consolidate their local units...
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