RBA hints at September cut

Ric Battelino, the deputy governor at the Reserve Bank of Australia, on Thursday gave the central bank's strongest sign yet that it will cut rates at its next monetary policy meeting on 2 September.

The deputy told a parliamentary committee that high interest rates had tempered domestic demand to the extent that the central bank was now "in a position to cut interest rates".

He added that the central bank "cannot wait to see a fall in inflation," which at 4.5% is now way above the inflation t

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