RATE CUTS TO THE RESCUE.

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  • Source:
    BusinessWeek. 02/26/2001, Issue 3721, p26-26. 1/2p. 1 Graph.
  • Additional Information
    • Subject Terms:
      ECONOMIC indicators; AUSTRALIAN economy; GROSS domestic product; INTEREST rates; MONETARY policy
    • Subject Terms:
      AUSTRALIA
    • Abstract:
      The article focuses on various issues concerned with the economic conditionsw of Australia in 2001. The growth of Australian economy was sharply slowing down in the year. The first half of the year experienced 5% growth rate in real gross domestic product which it was 2.6% in the third quarter. There was a loss of 23,000 jobs in the fourth quarter of the year. The reasons behind the slowdown included interest rate hikes by the Reserve Bank of Australia.