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.
Australia Finalizes Steps to Join China-Backed AIIB
11:43 - Australia is finalizing its plans to join the China-backed Asia Infrastructure Investment Bank. Bloomberg’s Paul Allen reports on “First Up.” (Source: Bloomberg)
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