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RBA governor says inflation within target, as bank’s forecasts assume further cuts
The Reserve Bank of Australia
Australia’s central bank cut its policy rate today (August 12) as expected, while lowering its growth and productivity outlook.
The Reserve Bank of Australia said its monetary policy board had decided unanimously to lower the rate by 25 basis points to 3.6%. The RBA said underlying inflation was expected to stay at around 2.5% and the benchmark rate was projected to follow a “gradual easing path”.
Speaking after the decision, governor Michele Bullock said the board had cut rates by 75bp since
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