Australia cuts interest rates to 1.75%
Tokyo Stock Exchange
Sydney - Arab Today
Australia's central bank on Tuesday cut its cash rate by 25 basis points to a historic low of 1.75 percent, with the move triggered by lower-than-expected inflation.
"The board judged that prospects for sustainable growth in the economy, with inflation returning to target over time, would be improved by easing monetary policy at this meeting," Reserve Bank of Australia governor Glenn Stevens said.
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