Page last updated at 14:18 GMT, Tuesday, 2 March 2010

Australia raises interest rates to 4%


Australia's central bank has raised interest rates, for the fourth time since October, as it seeks to cool its growing economy.

The increase, to 4% from 3.75%, was widely expected by economists.

Australia was the only major economy to avoid recession, and the first to raise rates from 50-year lows as the economic crisis eased.

Mariko Oi reports.

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