Tue, 7 October
17.1 C
Yerevan
USD: 382.58 RUB: 4.60 EUR: 446.20 GEL: 140.78 GBP: 513.46

Australian Central Bank cuts key rate to record low

YEREVAN, August 6. / ARKA /. The Australian central bank on Tuesday cut rates for the eighth time in less than two years in a bid to improve sluggish growth as a boom in mining investment over the past decade comes to an end, Reuters reported.

The Reserve Bank of Australia lowered its benchmark cash rate by a quarter of a percentage point to a record low of 2.5 percent, bringing the total cuts since November 2011 to 2.25 percentage points.

Despite cooling growth in China, which is the main market for Australia’s mineral riches, resource exports are continuing to grow, and are expected to continue to do so as projects that are now in the pipeline begin operation.

In a statement accompanying the rate decision Tuesday, the central bank governor, Glenn Stevens, hinted at the divergent trends, saying that although there had recently been “signs of increased demand for finance by households,” the pace of borrowing had remained “relatively subdued.” -0-

spot_img

POPULAR

Ranking of the most profitable banks in Armenia based on results of second quarter of 2025

ARKA news agency publishes the ranking of the most profitable commercial banks in Armenia based on the results of the second quarter of 2025.

Net loan portfolio of Armenian banks in Q2 2025 increased by 6.11% to AMD 6.8 trillion

The combined loan portfolio of 17 Armenia-based commercial banks upped  by 6.11% in Q2 2025 compared to Q1 2025, amounting to AMD 6.82 trillion, according to a ranking compiled by  the ARKA news agency.

Ranking of most profitable banks in Armenia based on results of first quarter of 2025

ARKA news agency publishes the ranking of the most profitable commercial banks in Armenia based on the results of the first quarter of 2025.

Insurance market of Armenia is in embryonic state

Insurance market of Armenia is in embryonic state

LATEST NEWS

spot_imgspot_imgspot_img