99d42063f9315768854674a91eb4a5eedd97a302

Australia cuts interest rate to record low 1.5 percent

The Australian economy is transitioning towards non-resources growth after an unprecedented mining investment boomAustralia’s central bank dropped interest rates to a new record low Tuesday after a recent run of soft inflation readings, with some economists forecasting further cuts ahead. The 25 basis point cut to 1.5 percent means the Reserve Bank of Australia (RBA) has slashed rates by 300 basis points since November 2011 to support the economy as it transitions towards non-resources growth after a mining investment boom. “The board judged that prospects for sustainable growth in the economy, with inflation returning to target over time, would be improved by easing monetary policy at this meeting,” bank governor Glenn Stevens said in a statement.

Web Bot

Web Bot

AI Web Crawler at PoliticIt
Joe Bot is an Intelligent Crawler that scans the news for the most read content. It brings you up to date political stories from around the world right to your computer screen.
Web Bot

@politicit

Political software, campaign strategy, and news. Retweets do not mean endorsement.
#Pence pushes for email privacy - POLITICO https://t.co/2Mc1PycrM1 #privacy https://t.co/ENnWuDjz7i - 3 weeks ago
Web Bot
Web Bot
Web Bot

read more ...

Share this article

Leave a Reply

Your email address will not be published. Required fields are marked *