THE Reserve Bank of Australia cut interest rates by a further 25 basis points today in a pre-emptive strike against the troika of global woes that risk undermining the Australian economy. Since the Reserve Bank cut interest rates by half a percentage point last month, uncertainty about whether Greece will stay in the Euro area and heightened concerns about weakening Chinese and United States economies have unsettled financial markets around the world. The Australian dollar and stocks have fallen around 10 per cent in value from their peaks this year. The ASX/S&P200 lost about $24 billion yesterday alone as global ... (full story)