Reserve Bank of Australia governor Philip Lowe. Photo: EPA
Australia’s central bank cuts borrowing rate to record-low 1 per cent as economy slows
- Announcement of a second cut in consecutive months followed Reserve Bank of Australia’s monthly policy meeting
- Reuters poll of 40 analysts had found 28 expected easing by a quarter of a point this week following a cut to 1.25 per cent in June
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Central Banks
Reserve Bank of Australia governor Philip Lowe. Photo: EPA