RBA Slashes Interest Rates .50%
The RBA announced a further reduction today of 0.25%, bringing the Cash Rate to a further record low of 0.50%:
The global outbreak of the coronavirus is expected to delay progress in Australia towards full employment and the inflation target. The Board therefore judged that it was appropriate to ease monetary policy further to provide additional support to employment and economic activity. It will continue to monitor developments closely and to assess the implications of the coronavirus for the economy. The Board is prepared to ease monetary policy further to support the Australian economy.
Click below to read the full statement from Statement by Philip Lowe, Governor: Monetary Policy Decision.
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