Экономика в Австралии

Australia's central bank has cut its benchmark interest rate by 25 basis points to 3%, as it looks to counter a slowdown in its mining sector.

basis point одна сотая часть процента a measure used for describing interest rates, equal to one hundredth of a percentage point (0.01%)

benchmark interest rate , исходная процентная ставка (минимальная ставка, требуемая инвестором при вложении средств в неказначейские ценные бумаги)

It has also been struggling with a stubbornly strong Australian dollar. A rate cut usually weakens a currency. The rate cut is the second since October and came after the Reserve Bank of Australia's monthly policy meeting. Australia's cost of borrowing is now at the same level it was during the global financial crisis of 2009.

cost of borrow стоимость добычи в карьере

The Australian dollar was little changed on the news, while the main Sydney stock exchange was down slightly.

stock exchange [] фондовая биржа

Mining slowdown

Analysts said that as the mining boom starts to run out of steam, the other sectors of the economy will have to take over and drive growth. Набирать силу

to run out of steam истощиться, исчерпать свои возможности

Demand for Australian commodities (товары) has meant that its economy has remained buoyant (бОент - бирж. повышательный) during the recent global slowdown whilst Europe and the US have slowed down.

However, that demand mainly from China is beginning to taper off (ослаблять) as the slowdown starts to hurt Asia as well. Prices for Australia's commodities have fallen as a result and the value of its exports has been reduced.

Dollar woes

The strength of the Australian dollar is also causing problems for the economy hurting sectors such as tourism and manufacturing. Businesses have been suffering as a result with the unemployment rate at a two-and-a-half year high.