Australia cuts rates to historic low as economy slows
Australia‘s central bank lowered the cost of borrowing for the first time in three years on Tuesday, hoping to extend a record 28-year-run without a recession amid stiffening headwinds.
The Reserve Bank of Australia cut rates by 25 basis points to a historic low of 1.25 percent, as the pace of growth slowed to levels not seen since the global financial crisis.
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