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Australia lowers key interest rate to 3 percent

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SYDNEY (AP) — Australia's central bank cut its benchmark interest rate by a quarter percentage point Tuesday, taking it to its lowest level since the global financial crisis, as slower growth in China, uncertainty over the U.S. outlook and stubbornly weak conditions in Europe undermine the Australian economy. The Reserve Bank of Australia's decision to lower the rate to 3 percent was its fourth...

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