News

Wed Jul 3

Back-to-back Reserve Bank cuts take interest rates to new low of 1%

Written by Michelle Grattan, Professorial Fellow, University of Canberra

The Reserve Bank has cut the official interest rate by another 0.25 percentage points to a new low of 1%, reflecting continuing concern over the slow economy.

Reserve Bank Governor Philip Lowe said the latest cut, which came a month after the RBA made a similar cut of 0.25 percentage points, would help “make further inroads” into the...

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