RBA cuts interest rates to 2.25%. Aussie plunges

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The Reserve Bank of Australia cut its overnight benchmark lending rates by 25bps from 2.5% to 2.25%. The Aussie fell as much as 1.9% against the Greenback, as the RBA continued to talk down the Aussie's exchange rate earlier today. The rate cut was widely disputed with a 50 - 50 chance, as most economists had spelled out reasonably strong reasons for and against the rate cut. It was only in the...

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