Australian Stock Market Report – Afternoon 3-19-13
Local shares were up by as much as 0.84 per cent after a few hours of trade, however steadily declined from midday onwards. The All Ordinaries Index (XAO) slipped by 0.46 per cent and has slumped by 2.5 per cent in just two sessions due to concerns relating to the Eurozone's third smallest economy, Cyprus.
One of the more important pieces of economic news out today was the Reserve Bank of Australia's ( RBA ) March 5 board minutes. The RBA seems content to remain on the interest rate sidelines for the time being however would not hesitate to loosen monetary policy if the situation deteriorated in Europe over the coming months.
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