Australia's central bank cuts cash rate to 0.5%

FILE PHOTO: Pedestrians walk past the Reserve Bank of Australia building in central Sydney, Australia, February 10, 2017. REUTERS/Steven Saphore

Australia's central bank cut its main cash rate by a quarter point to a record low of 0.5% on Tuesday as policy makers worldwide fight to limit the economic damage of the coronavirus.

The Reserve Bank of Australia (RBA) made the announcement following its monthly meeting.

(Reporting by Wayne Cole; Editing by Shri Navaratnam)