Australian central bank cuts rates for first time in over 4 years
- The Reserve Bank of Australia has cut the cash rate to 4.1 percent for the first time in over four years.
- The RBA's post-meeting statement warned that future rate cuts remain uncertain and inflation is still near the mid-point target range.
- Indicators of the Australian economy show potential risks, including trade disruptions from tariff policies that could affect growth and increase unemployment.
- The RBA is cautious about easing monetary policy too quickly to avoid high inflation settling above its target range of 2-3 percent.
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72 Articles
PM eager to take credit for 'bringing down inflation' with interest rate cut
Prime Minister Anthony Albanese is hoping for a popularity bounce after Tuesday's interest rate cut, but the Opposition maintains it won't be enough to help struggling families. As a date for the next election looms, billionaire Clive Palmer has committed to a new foray into the parliament, promising to campaign on the same policy platform as Donald Trump.
Can the government claim a win from the RBA cut?
On Tuesday afternoon, the Reserve Bank cut the official cash rate to 4.1 per cent. It’s the first interest rate cut since 2020, after 13 consecutive hikes between May 2022 and November 2023. Treasurer Jim Chalmers welcomed the cut, saying it's a relief “Australians need and deserve”. But RBA governor Michelle Bullock has warned not to expect further cuts and given the impact
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