Reserve Bank of Australia Cuts Rates by 50 Basis Points to 3.75%

1:00 AM ET Tue, 1 May 2012

Lauren Rosborough, senior currency strategist at Societe Generale, told CNBC, "There were only two economists who predicted a 50 basis point cut, what are the reasons? Banks have been increasing mortgage rates and perhaps the RBA is trying to mitigate that to some degree or does the RBA know something we don't?"