RBA Cuts Benchmark Rate to Record-Low 2.75%; Aussie Tumbles

RBA Cuts Benchmark Rate to Record-Low 2.75%; Aussie Tumbles

Ian Waldie/Bloomberg

An office worker walks along Circular Quay, near the Sydney Opera House and the Sydney Harbour Bridge. The Reserve Bank of Australia is seeking to rebalance an economy in which mining regions in the north and west thrive and manufacturers in the south and east struggle, helping push unemployment to a three-year high.