Australia central bank seen on hold even as tough budget looms

(Reuters) - Australia's central bank is almost certain to maintain a neutral policy bias this week with a batch of data likely to point to an economy that is picking up speed, uncomfortable reading for a government preparing voters for a tough federal budget.

Australia lowers key interest rate to 3 percent

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.