Australia central bank cuts rates to 2.5%
The Reserve Bank of Australia (RBA) made the announcement following its monthly policy meeting.
Australia's central bank on Tuesday cut its main cash rate a quarter point to a record low of 2.5%, a widely expected move given a cloudy global outlook, a tepid domestic economy and tame inflation.
The Reserve Bank of Australia (RBA) made the announcement following its monthly policy meeting. Analysts in a Reuters poll had been unanimous in expecting a rate cut this week.