RBA eyes rate cut as growth and inflation disappoint

Philip Lowe, Reserve Bank of Australia

The Reserve Bank of Australia (RBA) will consider a rate cut at its next monetary policy meeting owing to weak growth and below-target inflation, said governor Philip Lowe today (May 21).

In a speech to the Economic Society of Australia in Brisbane, the governor acknowledged the performance of the Australian economy has deteriorated since mid-2018 due to both international and local factors. He added that in this environment, looser financial conditions would support growth and boost inflation.

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