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MNI BRIEF: RBA Lowers Cash Rate 25bp To 4.10%

MNI (MELBOURNE) - The Reserve Bank of Australia Board lowered the cash rate 25 basis points to 4.10% on Tuesday, its first move lower since November 2020. 

In a statement following the decision, the Board said underlying inflation had fallen faster than expected following Q4’s 3.2% y/y result. “There has also been continued subdued growth in private demand and wage pressures have eased,” the Board noted. “These factors give the Board more confidence that inflation is moving sustainably towards the midpoint of the 2–3% target range.”

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MNI (MELBOURNE) - The Reserve Bank of Australia Board lowered the cash rate 25 basis points to 4.10% on Tuesday, its first move lower since November 2020. 

In a statement following the decision, the Board said underlying inflation had fallen faster than expected following Q4’s 3.2% y/y result. “There has also been continued subdued growth in private demand and wage pressures have eased,” the Board noted. “These factors give the Board more confidence that inflation is moving sustainably towards the midpoint of the 2–3% target range.”

Keep reading...Show less