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Australian Retail Sales Decline Amid Rate Hikes
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Australian retail sales unexpectedly slipped in October, indicating a slowdown in consumer spending due to the impact of the Reserve Bank's interest-rate increases. Despite the weaker-than-expected retail data, there is little market reaction. The Reserve Bank of Australia is expected to hold steady next month, but there is a 60% probability of raising rates early next year.
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How might the unexpected decline in Australian retail sales affect the global retail industry?
How might the unexpected decline in Australian retail sales impact the country's overall economic growth?
What measures can retailers take to mitigate the impact of rising interest rates on consumer spending?
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