Australia Raises Interest Rates Earlier Than Many Expected
In a surprise move, Australia's central bank raised interest rates Tuesday, becoming the first major economy to raise rates following the global financial crisis.
The Reserve Bank of Australia raised its main cash rate by a quarter of a percentage point to 3.25%.
The news has U.S. stock index futures higher and is also contributing to a rise in Gold (NYSE: GLD), which hit an all-time high today.
The Reserve Bank of Australia raised its main cash rate by a quarter of a percentage point to 3.25%.
The news has U.S. stock index futures higher and is also contributing to a rise in Gold (NYSE: GLD), which hit an all-time high today.
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