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Australia central bank cuts rates to record-low 2.0 percent


    SYDNEY (Reuters) - Australia's central bank cut its cash rate a quarter point to an all-time low of 2.0 percent on Tuesday, aiming to spur a sluggish domestic economy while keeping downward pressure on the local dollar.

    The Reserve Bank of Australia (RBA) made the announcement following its monthly policy meeting. A Reuters poll of 27 analysts had found 20 expected a cut this week.

    (Reporting by Wayne Cole; Editing by Shri Navaratnam)