RBA signals new rate cut ‘more likely than not’

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The board of the Reserve Bank of Australia highlighted the likelihood of new rate cuts after reducing the cash rate to 1.25% on June 4, say minutes of the meeting.

“Given the amount of spare capacity in the labour market and the economy more broadly, members agreed that it was more likely than not that a further easing in monetary policy would be appropriate in the period ahead,” say the minutes.

Rate-setters say the main factor that will determine new easing measures is the evolution of the

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