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Australia under pressure from US, European debt crises

08-17-2011 12:50 BJT

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Things are not so rosy in Australia either. The Reserve Bank of Australia says the US and European debt crises, could pose a risk to the domestic economy.

The official body believes if the financial turmoil continues, it could further weaken household and business confidence. As a result, the RBA decided to leave the interest rate unchanged at 4.75 percent, where it has been since November 2010.

Editor:Li Wanran |Source: CNTV.CN

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