Australia’s Central Bank Cuts Interest Rate 75 Basis Points
Nov 5th, 2008 | By Mike Caggeso | Category: Financial NewsAustralia’s central bank took the hatchet to its benchmark interest rate Tuesday, cutting 75 basis points to 5.25%, the lowest since March 2005. Since the start of September, the Reserve Bank of Australia cut interest rates three times for a total of 200 basis points, in an attempt to insulate the economy from the global financial crisis.