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.

Yellen: Prudent to Adjust Policy Gradually Over Time
31:02 - Federal Reserve Chair Janet Yellen speaks about the state of the U.S. economy during a speech at the Stanford Institute for Economic Policy Research in California. (Source: Bloomberg)
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