RBA Cuts Rates Amid Slowing Australian Economy | JQJO

Australia's Reserve Bank (RBA) cut its benchmark interest rate by 0.25% to 3.6%, its lowest since April 2023, citing substantially decreased inflation (2.1% in Q2). While acknowledging the rate's impact on households, the RBA didn't rule out further cuts if needed. The RBA lowered its economic growth forecast to 1.7% for the year, attributing the slowdown to weaker public demand and lower productivity growth, rather than trade disruptions. Analysts predict further rate cuts in the coming year.