Worldwide interest rates cut

The Chinese central bank, along with the Bank of England and the Eurozone banks have cut their interest rates in a bid to steady the slowing economic decline. The Peoples Bank of China has not cut interest rates since 2008.

These cuts are offering a relief to Eurozone’s faltering economy. Concerned about the economy but these measures show that people are doing something about it. People are generally believe the Eurozone will recover in the second half of the year.

The Reserve Bank of Australia lowered interest rates in June of this year.

Australia’s financial market has seen a modest domestic growth but with uncertain international environment households and businesses show precautionary behaviour. Unemployment still remains low within Australia.

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