Australia's central bank cuts interest rate to 2.0%
Reserve Bank of Australia cuts official cash rate by 2.0%
Sydney - AFP
Australia's central bank on Tuesday cut the official cash rate by 25 basis points to a new record low of 2.0 percent, its first easing since February amid a soft economic outlook.
"At today's meeting, the board judged that the inflation outlook provided the opportunity for monetary policy to be eased further, so as to reinforce recent encouraging trends in household demand," Reserve Bank of Australia governor Glenn Stevens said in a statement.
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