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Oct 06 2009
Australia increases interest rate
By MWC News   

Australia's central bank reduced the cash rate to 3% in September to stave off chances of recession [AFP]
Australia's central bank reduced the cash rate to 3% in September to stave off chances of recession [AFP]
Australia's central bank has raised its interest rate by 25 basis points to 3.25 per cent.

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EU farmers hold milk price protest
By Agencies   
Protesters sprayed milk as part of their protest demanding greater support from the EU [AFP]
Protesters sprayed milk as part of their protest demanding greater support from the EU [AFP]
Thousands of European farmers have brought Brussells to a standstill, spraying milk and manure onto the streets and pelting police with bottles and chickens in a protest against falling milk prices.

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IMF assumes major economic role
By Agencies   

Finance ministers meeting in Istanbul that while the global economy is improving, risks remain [AFP]
Finance ministers meeting in Istanbul that while the global economy is improving, risks remain [AFP]
The International Monetary Fund has assumed a more influential role in the global economy for enhanced recovery and to maintain stimulus growth.

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US jobless rate continues to rise
By Agencies   

The number of people out of work has risen in spite of signs that the US recession is easing [AFP]
The number of people out of work has risen in spite of signs that the US recession is easing [AFP]
The US unemployment rate hit 9.8 per cent in September, the highest level in more than 26 years, government data has shown.

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Bank of America head to step down
By Agencies   

Lewis built the largest US retail banking franchise through aggressive acquisitions [EPA]
Lewis built the largest US retail banking franchise through aggressive acquisitions [EPA]
Kenneth Lewis, the chief executive of Bank of America, has announced that he is to retire.

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