SYDNEY - Australia's central bank left its key interest rate unchanged at 3.25 percent yesterday after deep cuts in the past few months to help stimulate the rapidly slowing economy.
The board of the Reserve Bank of Australia decided to end the run of cuts - for now - that have slashed the key rate from 7.25 percent in September to its lowest level in more than 40 years.
Mongolia passes $1.1 bln stimulus plan
Mongolia's parliament passed a $1.1 billion economic stimulus plan yesterday that aims to ease an economic crisis battering the resource-rich country as a result of falling commodity prices. The stimulus is intended to stabilize the country's banking system and currency while creating jobs through road and infrastructure development. It also offers support for agriculture, livestock production, and the energy sector, while seeking to boost exports to China.
ULAN BATOR - The Associated Press