NOTE: This article was written with Australians in mind. One Australian Dollar is currently trading at approximately $1.03 USD Would $1 million really make you rich? Unfortunately, a million dollars ain’t what it used to be – many property owners living within five kilometres of a major Australian city would fit the bill, based only […]
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Seeking to cool a growing economy, the Reserve Bank of Australia has increased interest rates from 3.75% to 4% in a move widely expected by experts. As the only major economy to avoid recession (generally considered to be two consecutive quarters of negative growth), and the first to raise rates from 50-year lows as the economic crisis eased, it follows three consecutive rises at the end of 2009 but is the first rise for 2010.
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