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HomeAFPAustralia cuts rates to historic low as economy slows

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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