Australia's central bank cuts cash rate to 3.85 pc
SYDNEY: Australia’s central bank on Tuesday cut its official cash rate by 25 basis points to 3.85%, in its second rate cut this year.
The board of the Reserve Bank of Australia (RBA) said in a statement that it made the decision at its meeting on Tuesday, adding that maintaining low and stable inflation is the priority.
Inflation has fallen substantially since the peak in 2022, as higher interest rates have been working to bring aggregate demand and supply closer to balance, it said.
Uncertainty in the world economy has increased over the past three months, the board said, adding that there are uncertainties about the outlook for domestic economic activity.
By RSS/Xinhua
Published Date: May 20, 2025, 1:17 pm
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