Australia Interest Rate UnchangedJuly 2012
Australia's central bank decided on July 3, 2012 to keep the 3.5% interest rate unchanged after cut of 0.75% in the previous 2 months.
The decision follows the feeling that both the inflation and growth are in line with the historic trend.
Australia Banks Rating DowngradeDecember 2011
The rating agency Standard & Poor's downgraded on December 2 the rating of Australia's four biggest banks by one notch from AA to AA-.
The banks are Commonwealth Bank of Australia, Westpac Banking Corp, Australia & New Zealand Banking Group and National Australia Bank.
Australia Inflation up 0.9%July 2011
The Australian Bureau of Statistics, ABS , released on July 27 new economic data.
The consumer price index, CPI, rose 0.9% in the 2nd quarter of 2011. compared with a rise of 1.6% in the 1st quarter of 2011.
The most significant rise was for fruit, 26.9%. The most significant decrease was for vegetables which went down by 10.3%.
The CPI rose 3.6% in the year to the end of June 2011, compared to a rise of 3.3% in the year to the end of March 2011.
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