Australia central bank cuts rates to 3.25 pct

SYDNEY Tue Oct 2, 2012 12:34am EDT

SYDNEY Oct 2 (Reuters) - Australia's central bank on Tuesday cut its main cash rate a quarter point to 3.25 percent, the third cut in six months as a high local dollar, soft export prices and benign inflation all argued for easier policy.

The Reserve Bank of Australia (RBA) made the announcement following its monthly policy meeting. Most analysts had thought the central bank would hold off until November before considering a cut.

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