According to the market expectations, the FED of Australia cut benchmark interest rates to 2.5%. The fed said, the outlook for inflation may create a favorable environment for further rate cuts. Analysts said, although the Australian dollar rebound in this news, but to the long term, Australia's federal reserve is happy to see the Australian dollar depreciation. At the same time, under the condition of tainted milk powder incident in New Zealand, New Zealand's economy or was hit and also impacted Oceanic economy.

Written by Dora Men