RBA cuts growth forecast and suggests further easing could follow
The Reserve Bank of Australia (RBA) today trimmed its growth forecast for the remainder of the year while maintaining that risks to inflation are balanced, implying it has room to cut interest rates further if needed.
The board lowered its key policy rate from 2.75% to 2.5% on Tuesday, the second cut in its last three meetings. The move had been hinted at by Glenn Stevens, the RBA governor, in July, when he said the inflation outlook "may provide some scope for further easing, should that be
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