RBA minutes reveal discussion around rate cut
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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