Lates News

The Reserve Bank of Australia cut interest rates for the third time this year, stating that future decisions will depend on economic data. The Reserve Bank of Australia lowered the policy rate to 3.6% on Tuesday, the lowest level since April 2023, in line with market expectations. The RBA has now cut rates by a total of 75 basis points in this round of easing. With the labor market still tight and weak productivity growth, attention is turning to potential future rate cuts. The RBA Monetary Policy Committee stated in its policy announcement, "As core inflation continues to fall towards the mid-point of the 2%-3% target range and the job market cools slightly as expected, the committee believes that further easing of monetary policy is appropriate." Following the RBA's decision, the Australian dollar fell to 0.6505 against the US dollar, and the yield on Australia's three-year government bonds, sensitive to policy changes, fell to 3.41%.