Greek officials' call for citizens to vote to decide whether the beleaguered Aegean nation will accept bailout funding pulled down the value of the Australian dollar on Wednesday, according to Dow Jones Newswires.
One day after the Reserve Bank of Australia reduced interest rates by 25 basis points to 4.50 percent, the Aussie fell in value. Additional factors include the slow-churning global economy, debt-laden nations and what the globe's top economy – that of the U.S. – will do to encourage brighter financial times.
"There is plenty of talk about further easing through securities purchases, basically another round of (quantitative easing), but that's probably a touch too early for this meeting," strategist Michael Turner with RBC Capital Markets in Sydney told The Australian.
When U.S. central bank policy makers close two days of meetings on Wednesday, Ben Bernanke is expected to cite a reduced growth forecast for the economy he leads.
No interest rate changes are likely but the press conference that follows the end of the policy meeting will be closely followed to see if Bernanke tips his hand as to additional measures he might be considering, according to RTT News.
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