Australian dollar higher after Chinese interest rate cuts
THE Australian dollar is higher after the Chinese central bank cut its interest rates.
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THE Australian dollar is higher after the Chinese central bank cut its interest rates.
At 0630 AEDT on Monday, the local dollar was trading at 86.67 US cents, up from 86.31 cents on Friday.
The People’s Bank of China (PBOC) on Friday cut its one-year rate for deposits by 0.25 of a percentage point to 2.75 per cent and its one-year lending rate by 0.40 of a percentage point to 5.6 per cent.
Originally published as Australian dollar higher after Chinese interest rate cuts
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