Australia cuts interest rates to 3.6% amid global economic uncertainty ...Middle East

The 25-basis-point reduction comes as inflation shows steady improvement but global economic risks persist.

The board noted some progress in understanding US trade policies but warned of lingering risks.

Trade policy shifts could still negatively impact worldwide economic growth, according to the bank.

“A more productive economy, a stronger budget, and more resilience” are crucial, Chalmers said.

The latest rate cut follows a peak inflation rate of 7.8 percent in late 2022. - AFP

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