The Reserve Bank of Australia (RBA ) has cut official interest rates for the second month in a row at today's board meeting.
The cut of 0.25 per cent sees rates fall to 3.50 per cent.
RBA Governor Glenn Stevens released a statement today saying that the outlook for inflation allowed for a more accommodative stance on monetary policy. This combined with modest domestic growth and a weaker and more uncertain international environment directly contributed to the decision.
The cut of 0.25 per cent sees rates fall to 3.50 per cent.
He went on to say that both households and businesses continue to exhibit a degree of precautionary behaviour, which will more than likely continue for the foreseeable future.
The RBA also observed that housing prices had shown some signs of stabilising around the turn of the year, but have recently declined again.
The decision follows a cut of 50 basis points at theRBA 's May meeting. Most pundits are predicting that there are more cuts to come.
The decision follows a cut of 50 basis points at the
No comments:
Post a Comment