RBA Cuts Key Rate to Record 2.5% in Boost to Rudd in Australia

RBA Cuts Key Rate to Record 2.5% in Boost to Rudd in Australia

Dan Himbrechts/Bloomberg

A pedestrian walks past the Reserve Bank of Australia (RBA) headquarters in the central business district of Sydney. The central bank is seeking to boost non-mining industries of the economy that struggled with an elevated currency, underscored by Ford Motor Co.’s plan to close its local plants, resulting in 1,200 job losses.