RBA’s Stevens Cuts Benchmark Rate to 3%

The following is a reformatted version of a statement published today on the Reserve Bank of Australia’s website, after Governor Glenn Stevens and his board lowered the overnight cash-rate target by a quarter percentage point to 3 percent.
China: What are the Global Concerns?
47:06 - China sought to ease concerns that its slowing economy could drag down global growth and signaled it won’t get dragged into tit-for-tat currency valuations. Emerging markets from China to Brazil have slid amid declining trade, mounting debt, falling commodity prices and a rising U.S. dollar.
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