Australia central bank cuts interest rate by 0.25 percentage point to record low 2.75 percent

  • by: ROD McGUIRK , Associated Press
  • Updated: May 7, 2013 - 1:38 AM

CANBERRA, Australia - Australia's central bank cut its key interest rate by a quarter percentage point to a record low 2.75 percent Tuesday in an effort to boost economic growth as a mining boom cools and the strong Australian dollar erodes business profits.

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