Reuters: US Dollar Report: Australia central bank cuts rates 50 bp to 3.75 pct

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Australia central bank cuts rates 50 bp to 3.75 pct May 1st 2012, 04:33 SYDNEY | Tue May 1, 2012 12:33am EDT SYDNEY May 1 (Reuters) - Australia's central bank on Tuesday cut its main cash rate by a deeper-than-expected 50 basis points to 3.75 percent, against a background of benign inflation and disappointing economic growth. The Reserve Bank of Australia (RBA) made the announcement following its monthly policy meeting. For text of the statement see:

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