Australia's slowing economy has pushed the country's central bank to slash interest rates by 0.5 percentage points to 3.75%, in a sign that the eurozone crisis and the cooling in China are affecting the global economy, Tuesday's cut made was larger than most foreign exchange traders anticipated and is expected by some analysts to be followed by several more cuts before the end of the year. The decision by the Reserve Bank of Australia follows the release last week of relatively weak inflation data. Economists had widely predicted a cut of only a quarter percentage point. The last interest rate cut was in December. ... (full story)