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Asian shares falter, Aussie dollar volatile after rate cut
[Reuters] - Asian stock markets retreated on Tuesday and the Australian dollar briefly fell after the central bank cut interest rates for the second time in four months as the region's growth falters in the face of slowing demand from China. The Reserve Bank of Australia cut its cash rate a quarter point to an all-time low of 2.0 percent to push the stubbornly strong local dollar lower, in line with market and analysts' expectations. The Australian dollar fell a quarter of a cent initially, but then quickly rebounded as opinion was divided on how effective the latest RBA cut was going to be in tamping down the currency and spurring the broader economy. "Cautious and uncertain households mean rate cuts are less effective today," said Jasmin Argyrou, senior investment manager at Aberdeen Asset Management.
Asian shares falter, Aussie dollar volatile after rate cut - Yahoo Finance
[Reuters] - Asian stock markets retreated on Tuesday and the Australian dollar briefly fell after the central bank cut interest rates for the second time in four months as the region's growth falters in the face of slowing demand from China. The Reserve Bank of Australia cut its cash rate a quarter point to an all-time low of 2.0 percent to push the stubbornly strong local dollar lower, in line with market and analysts' expectations. The Australian dollar fell a quarter of a cent initially, but then quickly rebounded as opinion was divided on how effective the latest RBA cut was going to be in tamping down the currency and spurring the broader economy. "Cautious and uncertain households mean rate cuts are less effective today," said Jasmin Argyrou, senior investment manager at Aberdeen Asset Management.
Asian shares falter, Aussie dollar volatile after rate cut - Yahoo Finance
