Reserve Bank of Australia rate cut

An Outsized Interest Rate Cut by Australia’s Central Bank

May 1, 2012

The Reserve Bank of Australia’s Official Cash Rate was slashed by 50 basis points to 3.75%, twice the expected reduction.  The Aussie dollar and kiwi in response fell by 1.1% and 0.7% against the greenback.  The U.S. dollar otherwise rose 0.2% against sterling and 0.1% versus the yen and yuan while edging down 0.2% against […] More