Australia cuts rates to record low to counter disinflation, spur jobs
Add BT as a preferred sourceDeeperDive is a beta AI feature. Refer to full articles for the facts.
Sydney
AUSTRALIA'S central bank cut interest rates to a fresh record low as it moves to counter disinflation and support a labour market hampered by high levels of part-time work and underemployment.
Reserve Bank of Australia (RBA) governor Glenn Stevens and his board lowered the cash rate by 25 basis points to 1.5 per cent on Tuesday, as expected, saying "inflation remains quite low". "Given very subdued growth in labour costs and low cost pressures elsewhere in the world, this is expected to remain the case for some time," the RBA said.
Share with us your feedback on BT's products and services
TRENDING NOW
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
Beijing’s calculated silence on the Iran war
Middle East-linked energy supply shocks put Asean Power Grid back in focus
