RBA cuts rates to new record low
Australia’s central bank “prepared to ease monetary policy further” to meet inflation target
The Reserve Bank of Australia reduced interest rates to a new record low of 0.75% today (October 1), in a bid to boost employment, incomes and inflation.
The RBA’s board implemented the third 25-basis point cut of 2019, following the ones implemented in June and July. In the immediate aftermath of the announcement, the Australian dollar declined by 1.3% against the US dollar to 0.66.
Rate setters are aiming “to support employment and income growth and to provide greater confidence that
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