Australian Shares Fall as Bank Freezes Cash Rate

Australian Shares Fall as Bank Freezes Cash Rate

The Reserve Bank of Australia has frozen the cash rate at 2.5% for a record tenth month. The move was expected by analysts but there are likely to be incremental rises early next year which will push the rate to 3.25% as the economy picks up. Australia’s stock market was down at close as a result of this news, China’s manufacturing figures and a slowdown in retail. Read the full story.