Australia central bank cuts rates to 3.0 pct

SYDNEY Mon Dec 3, 2012 10:34pm EST

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:

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