| Australia Economy Archive: |
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Australia's Retail Sales Increase 0.7% in May
Jul 02, 8:32 AM EDT |
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| In original terms, Australian turnover increased by 3.6% in May 2008 compared with April 2008. |
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| The seasonally adjusted estimate of turnover for the Australian Retail and Hospitality/Services series increased by 0.7% in May 2008. This follows a revised decrease of 0.1% in April 2008 and a revised increase of 0.3% in March 2008. |
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RBA Keeps Rates Steady at 7.25%
Jul 01, 9:56 AM EDT |
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| The Board decided to leave the cash rate unchanged at 7.25%. |
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| Inflation in Australia has been high over the past year in an environment of limited spare capacity and earlier strong growth in demand. In these circumstances, the Board has been seeking to restrain demand in order to reduce inflation over time. |
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