Australian central bank cuts key interest rate to 0.1 per cent

Australia's central bank on Tuesday cut its benchmark interest rate by 0.15 of a percentage point to a record low 0.10 per cent in a bid to lift the economy from a pandemic-induced recession

The move is the first since March when the Reserve Bank of Australia board made two cuts of a quarter of a percentage point each two weeks apart

The Australian economy has contracted during the first half of the calendar year, although Reserve Bank deputy governor Guy Debelle has said he expects official data will reveal some growth in the September quarter.