RBA cuts cash rate another 25 basis points as global market sentiment deteriorates

Tue, 05 Jun 2012

By Paul McBeth June 05 (BusinessDesk) - The Reserve Bank of Australia cut 25 basis points from its target cash rate as deteriorating market sentiment and an uncertain international environment keep interest rate expectations low. The RBA cut its benchmark interest rate to 3.5 percent, having sliced half a percentage point off the rate last month, in line with economists' expectations. Governor Glenn Stevens said financial market sentiment has deteriorated over the past month as Europe's ongoing sovereign debt crisis saps optimism and created...

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