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Australia’s central bank cuts cash rate to 3.85%

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Agency. Australia’s central bank on Tuesday cut its official cash rate by 25 basis points to 3.85 per cent. This is the second rate cut this year.

Australia’s Reserve Bank board said in a statement that maintaining low and stable inflation is a priority. There has been a significant decline in inflation since the highest point in 2022. Because higher interest rates are working to bring overall demand and supply closer to balance.

In the last three months, uncertainty has increased in the global economy. There are uncertainties about the outlook for domestic economic activity.

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