Australia's central bank has cut its key interest rate by a quarter of a percentage point to a record low of 2.75%, in an effort to promote economic growth.
Bank's monthly meeting of the Board of the Reserve Bank of Australia Governor Glenn Stevens said in a statement on Tuesday, below-trend economic growth in the second half of 2012, and continue to be so in 2013.
He said: "employment continued to grow, but more slowly than the labor force, the unemployment rate increased a little bit, but it is still relatively low."
Stevens said: "The global economy this year may be recorded slightly lower than the front of the trend, pick up next year."
 
 



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