05/11/2008 - 22:00

RBA cuts rate by 75bps

05/11/2008 - 22:00

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RBA cuts rate by 75bps
THE Reserve Bank of Australia has cut the official cash rate by 75 basis points to 5.25 per cent, its lowest level since March 2005. Most analysts had expected the central bank to cut the rate by 50 basis points, which was factored in by the stock market which soared to close 5 per cent higher the previous day.

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