RBA Cuts Benchmark Rate to Record-Low 2.75%; Aussie Tumbles

The Reserve Bank of Australia cut its benchmark interest rate to a record as a high currency weakens manufacturing and drives up unemployment. The local dollar fell. Governor Glenn Stevens and his board reduced the overnight cash-rate target by a quarter percentage point to 2.75 percent, the cen…

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RBA Cuts Benchmark Rate to Record-Low 2.75%; Aussie Tumbles

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