RBA slashes rates to five-year low
Analysts had expected a 50 basis-point loosening and the region's equity markets climbed on the news. The Nikkei 225 index of leading shares listed in Tokyo finished the day up 6.3% at a two-week high of 9,115, partly on the back of the rate action.
The move leaves the benchmark cash rate at 5.25%, the lowest level since December 2003.
"The size of the move underscores that while
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