RBA minutes reveal discussion around rate cut

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RBA minutes reveal discussion about rate decision

Minutes of the Reserve Bank of Australia's (RBA) latest policy meeting shed light on the decision to cut the key rate to 1.75% this month.

"Members discussed the merits of adjusting policy at this meeting or awaiting further information before acting," the minutes said.

Developments over the past month had not led to a "material change" in the outlook for economic activity or the unemployment rate, but the outlook for inflation had been revised lower.

As a result, members were "persuaded" that

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