Word: australian
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Three days after the Reserve Bank of Australia unexpectedly raised interest rates, the monetary policy committee of South Korea's central bank held a meeting. The Oct. 9 gathering was closely followed because the Australian move raised expectations that other central banks would also tighten. Korea held the line. Citing "uncertainty as to the economic growth path," the Bank of Korea kept interest rates at an ultra-low 2%, the result of six rate cuts over the past year...
...Australian dollar jumped 2.6% vs. the greenback after the rate hike was announced. The U.S. dollar also continued to fall against the euro, which ended the week at $1.47, up 1.2% from before the Australian move. Like the Japanese yen, the dollar has effectively become a carry-trade currency. People borrow in the U.S. currency and use the proceeds to buy the Australian dollar, profiting from the interest rate differential and also the greenback's downward spiral. (See pictures of TIME's Wall Street covers...
...boats and two skippers were lost,” he reminisces. “One was saved by the Australian Navy off of Cape Horn...
PETER WILSON, a tourist in Sydney, where one of the worst dust storms in 70 years shrouded the city in an orange fog. An estimated 5 million tons of dust were blown in from the drought-stricken Australian outback by strong winds...
...Steady Rain turns out to be better than I had any right to expect - better, in fact, than any new American play on Broadway since August Osage County.Its two stars, an Australian and a Brit playing a pair of Chicago cops, are startlingly good: magnetic, commanding the stage (neither is a theater neophyte) yet totally absorbed in their characters, enhancing the play rather than bending it to their will. (Read "What's New on Broadway...