Australia central bank cuts rates to 3.0 pct
SYDNEY Dec 4 (Reuters) - Australia's central bank on Tuesday cut its main cash rate a quarter point to 3.0 percent to match the record lows from the global financial crisis, as insurance against an uncertain world outlook, a high currency and soft export prices.
The Reserve Bank of Australia (RBA) made the announcement following its monthly policy meeting. Most analysts had thought the central bank would cut this week and markets had been almost fully priced for an easing.
For text of the statement see:
- Search for Malaysian plane may extend to Indian Ocean - U.S |
- Russia holds war games near Ukraine; Merkel warns of catastrophe |
- New York City gas explosion subject of federal probe |
- White House tried to mediate dispute between Senate, CIA panel: source
- Missing jet may have strayed to west, Malaysia military says |