RBA eyes rate cut as growth and inflation disappoint
Trade tensions and weak household income hamper central bank’s previous plan to tighten policy
The Reserve Bank of Australia (RBA) will consider a rate cut at its next monetary policy meeting owing to weak growth and below-target inflation, said governor Philip Lowe today (May 21).
In a speech to the Economic Society of Australia in Brisbane, the governor acknowledged the performance of the Australian economy has deteriorated since mid-2018 due to both international and local factors. He added that in this environment, looser financial conditions would support growth and boost inflation
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