RBA cuts as housing risks posed by lower rates ‘diminish’
Reserve Bank of Australia cuts by a further 25bp to 1.5% after inflation drops to 1%
The Reserve Bank of Australia (RBA) cut its policy rate by 25bp to 1.5% today (August 2), after annual CPI inflation fell for the second consecutive quarter to 1% in June.
It is the second time the central bank has eased this year, after cutting by an initial 25bp in May on the back of "lower than expected inflationary pressures".
Today RBA governor Glenn Stevens acknowledged inflation was expected to remain low for "some time". Forecasts released in May saw the headline figure anywhere between
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