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Australia Central Bank Hikes Rate Unexpectedly Despite Slowing Inflation

Australia Central Bank Hikes Rate Unexpectedly Despite Slowing Inflation

Despite an easing in inflation, the Reserve Bank of Australia unexpectedly raised its benchmark interest rate by a quarter-point and signaled more hikes to bring inflation back to the target in a reasonable timeframe. The RBA Board decided to hike the cash rate target by 25 basis points to 3.85 percent. This was the highest rate since early 2012.
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FDA Approves First Drug For Anemia In Cats With CKD

FDA Approves First Drug For Anemia In Cats With CKD

The U.S. Food and Drug Administration conditionally approved Elanco US Inc.'s Varenzin-CA1 (molidustat oral suspension) for treating anemia in cats with chronic kidney disease or CKD. It is the first drug for the control of nonregenerative anemia associated with CKD in cats. Varenzin-CA1 works by helping to increase production of erythropoietin in the kidney, which in turn stimulates the bone mar
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Australian Dollar Rises On RBA's Surprise Rate Hike

Australian Dollar Rises On RBA's Surprise Rate Hike

The Australian dollar strengthened against other major currencies in the Asian session on Tuesday, after Australia's central bank unexpectedly raised its benchmark interest rate by a quarter-point.
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Yen Slides Against Majors

Yen Slides Against Majors

The Japanese yen weakened against other major currencies in the Asian session on Tuesday.
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European Economic News Preview: Eurozone Flash Inflation, Final Factory PMI Data Due

European Economic News Preview: Eurozone Flash Inflation, Final Factory PMI Data Due

Flash inflation and final manufacturing Purchasing Managers' survey results from the euro area are due on Tuesday, headlining a busy day for the European economic news. At 2.00 am ET, UK Nationwide house price data is due. House prices are forecast to fall 3.6 percent annually in April, following a 3.1 percent drop in March.
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