RBA ready to cut rates below record-low 1% – minutes

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The Reserve Bank of Australia is willing to reduce interest rates below their current record-low level in order to boost growth and achieve the inflation target.

After implementing two consecutive 25-basis point rate cuts in June and July, which took the cash rate down to a new record-low 1%, the RBA’s board kept rates unchanged on August 6.

Rate-setters thought it “appropriate to assess developments in the global and domestic economies before considering further change to the setting of

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