Australia cuts key interest rate by 75 points
China Daily | Updated: 2008-11-05 08:05
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Glenn Stevens, governor of the Reserve Bank of Australia, speaks at a government House committee in Perth. Bloomberg News |
Australia's central bank cut its benchmark interest rate by a larger-than-expected three quarters of a percentage point, the third reduction in as many months, amid evidence global financial turmoil is buffeting the economy.
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