सिंहदरबार संवाददाता
Agency. Australia’s central bank cut interest rates on Tuesday for the first time since November 2020. The 25 basis point cut brought the country’s official cash rate to 4.1 percent.
The Reserve Bank of Australia also cut the interest rate it pays on exchange settlement balances to 4 percent. Inflation has fallen significantly since hitting its highest level in 2022.
The board attributed the decline to higher interest rates bringing aggregate demand and supply closer to balance. There are significant uncertainties about the outlook for domestic economic activity and inflation.
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