HONG KONG — Asian stock markets retreated on Tuesday and the Australian dollar briefly fell after the central bank cut interest rates for the second time in four months as the region’s growth falters in the face of slowing demand from China.The Reserve Bank of Australia (RBA) cut its cash rate a quarter point to an all-time low of 2% to push the stubbornly strong local dollar lower, in line with market and analysts’ expectations.The Australian dollar fell a quarter of a cent initially, but then quickly rebounded as opinion was divided on how effective the latest RBA cut was going to be in tamping down the currency and spurring the broader economy."Cautious and uncertain households mean rate cuts are less effective today," Aberdeen Asset Management senior investment manager Jasmin Argyrou said."A low (Australian dollar) is still the best chance of rebooting the economy, but for that to happen the RBA will need to leave the cash rate at record lows, and for a record length of time," M...
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