The Reserve Bank of Australia has reduced its policy rate by 25 basis points, bringing it to the lowest level in two years.
This move comes as inflation worries in Australia continue to diminish, providing the central bank with the opportunity to relax its monetary policy.
The benchmark rate has been cut to 3.85%, marking its lowest point since May 2023.
This decision aligns with the predictions of economists who had previously been surveyed.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.