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Australian central bank cuts rates for first time in over 4 years

The Reserve Bank of Australia has cut the cash rate target from 4.35% to 4.10%, marking the first reduction since November 2020.
Experts believe the fall in inflation gives the RBA room to reduce the cash rate, with inflation dropping to 3.2% in the December quarter.
Treasurer Jim Chalmers stated the rate cut is 'the rate relief Australians need and deserve,' but acknowledged it won't solve all economic problems.
Major banks, including CBA, ANZ, NAB, and Westpac, announced home loan rate cuts following the RBA's decision.

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SBS News

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.

2 days ago·Sydney, Australia

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The Saturday Paper

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

3 days ago

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Business Live

Reserve Bank of Australia cuts rates for first time since 2020

Rate cut is good news for PM Anthony Albanese, who is facing a tough election to be held before May 18

3 days ago·Johannesburg, South Africa

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Taipei Times

Australian central bank cuts benchmark interest

Bringing Taiwan to the World and the World to Taiwan

3 days ago·Taipei, Taiwan

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RTÉ

Australia cuts rates for first time since 2020

Australia's central bank cut its key interest rate today for the first time in more than four years, but warned global turmoil could derail further easing.

3 days ago·Ireland

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New Strait Times

Australian central bank cuts rates for first time since 2020

SYDNEY: Australia's central bank cut its key interest rate Tuesday for the first time in more than four years, but warned global turmoil could derail further easing. © New Straits Times Press (M) Bhd

4 days ago·Malaysia

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