Australian Market Report of October 7: RBA Decision Boosted Confidence

  Sydney, Australia, Oct 7, 2009 - (ABN Newswire) - Overnight Wall Street extended its gains on Reserve Bank of Australia's unexpected decision to raise the official interest rate. Investors saw the first rate hike in advanced economies since the global financial crisis as a key indication of recovery. The move also pushed commodities higher with gold soaring to a record. Yesterday the Australian market was boosted by the rise of key cash rate.  

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