The following is a reformatted version of a statement published Tuesday on the Reserve Bank of Australia’s website, after Governor Glenn Stevens and his board cut the overnight cash-rate target a quarter of a percentage point to 1.5 percent At its meeting today, the Board decided to lower the cash rate by 25 basis points to 1.50 percent, effective 3 August 2016. The global economy is continuing to grow, at a lower than average pace. Several advanced...
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