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UK's embattled govt stares at new U-turn on economy
UK's embattled govt stares at new U-turn on economy
by  AFP

Britain's Prime Minister Liz Truss defended her contentious plan to kick-start economic growth through tax cuts, despite expectations Tuesday of a second damaging U-turn. Asked if any more U-turns were coming, Truss was evasive in an interview with LBC radio broadcast Tuesday but recorded on Monday.

Australia hikes rates less than forecast, boosting stocks
Australia hikes rates less than forecast, boosting stocks
by  AFP

Australia raised interest rates less than expected Tuesday, boosting stocks and dragging the local dollar lower, as officials grow concerned about a slowing global economy sparked by rising borrowing costs and surging prices. It added that the surge in prices had been driven by "global factors", along with strong spending levels in Australia.

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