The Reserve Bank of Australia cut rates by 25 basis points to a historic low of 1.25 per cent, as the pace of growth slowed to levels not seen since the global financial crisis. Photo: Bloomberg

Australia cuts borrowing rates to historic low as economy slows

  • The Reserve Bank of Australia cut rates by 25 basis points to a historic low of 1.25 per cent as the pace of growth slowed to levels not seen since the global financial crisis
  • Rising unemployment, low wages, a housing slump and below-target inflation are stoking fears about the health of the economy in Australia
Topic |   Central Banks

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The Reserve Bank of Australia cut rates by 25 basis points to a historic low of 1.25 per cent, as the pace of growth slowed to levels not seen since the global financial crisis. Photo: Bloomberg
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