When OPEC last cut production, early in 2007, prices doubled in just over a year.
The ECB last cut its key interest rate, by 0.25%, on 10 May.
But the main case for raising interest rates is that, since the central bank last cut rates, Australia's economy has surprised with its resilience.
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The ECB last cut rates in the immediate aftermath of the attacks on the United States, trimming by half a percentage point to 3.75%, outside its normal schedule of meetings.
MPC, together with Mr King's prominence as a dissenting voice, reinforces the view that the reduction in rates to 4.5% in early August might be the Bank's first and last cut in this phase of the interest-rate cycle.
The Reserve Bank of Australia last week cut rates by half a percentage point.
For instance, UBS cited capital goods company Krones which last year cut costs significantly.
The 30-year-old Jackson had been the Orioles' last player cut in spring training.
The Bank last month cut the headline rate back to 0.15%, as Tokyo stocks slid to a 15-year low.
In California alone, half of all school districts last year cut or reduced art, drama and music programs.
The opening of a new British high-speed rail section last November cut Eurostar journey times between London and Paris by 20 minutes.
The central bank last year cut interest rates and raised reserve requirements for foreign and local banks in an unorthodox attempt to deter rising capital inflows.
Since BP's board forced out former Chief Executive Bob Horton, whose tenure resulted in the company's last dividend cut in 1992, its quarterly payouts have been considered sacrosanct.
Having raised interest rates last year, the Central Bank cut them last week.
The original plan was for a two-and-a-half-minute test tomorrow, cut last week to the 30-second length.
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Ninety-five percent of working people in this country saw their taxes cut last year.
Reviewers should be the last to be cut, although some newer ones could get axed.
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IMF, has at last had to cut its duties on sugar and some other foodstuffs.
Fourie signed for Leeds in 2007, but has had his last two seasons cut short through injury.
New culture secretary Maria Miller promised last week to cut the red tape associated with broadband rollouts.
Last year it cut the city's borrowing limit, impeding Mr Cardenas's plan for a new metro line.
The last mayor to cut taxes was Edward Rendell, a Democrat (Philadelphia hasn't had a Republican mayor since 1952).
However, she believes holidays are the last thing we cut back on completely.
Republicans dug in on their proposals to accelerate tax cuts passed into law last year and cut corporate minimum taxes.
Israel's Derrick Sharp hit a three-pointer midway through the last quarter to cut Spain's lead to four points at 61-57.
Morocco is so concerned about Iranian subversion of its Sunni population that last month it cut off diplomatic ties with Teheran.
Last summer archaeologists cut three, 20 metre (66ft) long trenches north to south in the car park and an adjacent school yard.
However, in the last purchase they cut their bailout bond orders to half that amount, adroitly stating holdings in the foreign reserves.
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