RBA Slashes Rates
The cash rate now sits at an unprecedented 0.75%!
“The Board took the decision to lower interest rates further today to support employment and income growth and to provide greater confidence that inflation will be consistent with the medium-term target. The economy still has spare capacity and lower interest rates will help make inroads into that. The Board also took account of the forces leading to the trend to lower interest rates globally and the effects this trend is having on the Australian economy and inflation outcomes.”
Click below to read the full statement from Statement by Philip Lowe, Governor: Monetary Policy Decision.
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