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.
`Time Is of the Essence' for Greece to Reach Deal: Lew
33:36 - U.S. Treasury Secretary Jacob J. Lew speaks about the U.S. and global economies, Greece's debt crisis and International Monetary Fund reforms. Lew speaks at news conference at the 2015 World Bank Group/IMF Spring Meetings in Washington. (Source: Bloomberg)
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