Australia lowers interest rates

AUSTRALIA - The Reserve Bank of Australia sliced interest rates by one-quarter percentage point on 5 September to offset weakening global economic activity and despite higher-than-forecast inflation.

Some analysts also said any further weakening of the world economy could push the central bank to ease again in October, the last time it can probably move again before a national election.

The Reserve Bank last cut rates in April and has now reduced the overnight cash rate by 1.5 percentage points

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