Breaking News – Reserve Bank Announces First Interest Rate Cut In More Than Four Years
In a move that was widely anticipated by banks and markets, the RBA announced a reduction in the cash rate from 4.35% to 4.1%, a reduction of .25%. The RBA stated that a lower inflation rate and a tightening in private demand, provided justification for reducing the rate. However, the RBA noted that conflicting labour market signals may prevent further reductions in the near term. For the full RBA statement,… Read more