Australia's central bank cuts rates by 0.25 percentage points

Australia's central bank

Australia's central bank on Tuesday cut its main cash rate by 0.25 percentage points to a two-year low of 3.60 percent, citing a slowdown in inflation and a looser labour market, though it was cautious on the prospect of further easing.

Wrapping up a two-day policy meeting, the Reserve Bank of Australia board said data and updated forecasts suggested core inflation would moderate to around the middle of its 2 percent to 3 percent target band assuming a gradual easing in policy.