RBA cuts key rate a quarter point to 3.25 percent; kiwi jumps vs. Australian dollar

Tue, 02 Oct 2012

Oct. 2 (BusinessDesk) - The Reserve Bank of Australia cuts its key interest rate, citing weaker commodity prices in a global market where the outlook for economic growth “has softened”. The Australian dollar dropped against the greenback and the New Zealand dollar. “The outlook for growth in the world economy has softened over recent months, with estimates for global GDP being edged down, and risks to the outlook still seen to be on the downside,” Governor Glenn Stevens said in a statement published on the RBA website. “Key commodity prices...

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