RBA slashes rates to new record low

The Reserve Bank of Australia

The Reserve Bank of Australia has cut its cash rate by 25 basis points to 1% – the second time rates have been cut to a record low in the space of a month.

In a statement today (July 2), governor Phillip Lowe announced the move, which is Australia’s first back-to-back rate cut since 2012.

Lowe said the cut was meant to “support employment growth” and “provide greater confidence” that Australia can bring inflation towards its target of 2%.

“Today’s decision to lower the cash rate will help

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: