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Tuesday, 5 October 2010

Japan : Cuts Rates Yen Falls ; Nikkei rises

By Lisa Twaronite

TOKYO (MarketWatch) -- The Bank of Japan at the conclusion of its two-day policy meeting Tuesday unanimously voted to cut its key overnight call rate range to between zero and 0.1%, from 0.1% previously, and pledged to maintain its easy policy until prices stabilize. It said it would set up a fund to buy Japanese government bonds, corporate debt, exchange-traded funds and other funds. The central bank said that while the Japanese economy is showing signs of a moderate recovery, the pace of the recovery is weakening and growth will likely be slower than it predicted in its July outlook. The dollar rose to 83.95 yen, from 83.50 yen shortly before the decision, while the Nikkei Stock Average was up 1.6%

Australia leaves interest rate unchanged at 4.5%

By V. Phani Kumar
HONG KONG (MarketWatch) -- The Reserve Bank of Australia Tuesday left its benchmark interest rate unchanged at 4.5%, citing a moderation in inflation even as improving business investment was boosting national income. Economists were split in their expectations from the RBA, although those surveyed by FactSet Research had estimated a quarter-point increase to 4.75%. The RBA, which has increased the cash rate target in six equal instalments of 0.25 points since April 2009, has left the rate unchanged since the last hike in May 2010. The Australian dollar /quotes/comstock/21o!x:saudusd (AUDUSD 0.9580, -0.0094, -0.9717%) fell sharply after the rate decision and was buying 95.81 U.S. cents from 96.64 cents on Monday

sumber : MarketWatch

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