Australia slashes rates to a 29-year low of 4.5%

AUSTRALIA - Australia's central bank cut official interest rates on Wednesday 3 October by a quarter of a percentage point to a 29-year low of 4.5 percent in a bid to bolster the economy in an international downturn.

The announcement by the Reserve Bank of Australia (RBA) board followed a decision hours earlier by the US Federal Reserve to cut US rates by half a percentage point to a 39-year low of 2.50 percent.

The fifth cut in Australia's official cash rate this year came amid fears the 11

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here:

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: