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RBA cuts interest rates to 2-1/5 year low
AI Summary
- RBA cuts interest rates by 25 basis points to 3.60%, lowest level since April 2023
- Decision in line with market expectations
- Indicates potential economic concerns or need for stimulus measures
At the conclusion of its August 12 meeting, the Reserve Bank of Australia’s Monetary Policy Committee decided on Tuesday morning to cut interest rates by 25 basis points to a range of 3.60%, the lowest level since April 2023, in line with market expectations.
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