The Reserve Bank of Australia (RBA) has cut its policy interest rate by 25 basis points to 4.1%, marking its first reduction since November 2020. The move follows a prolonged tightening cycle that saw rates rise from 0.1% to 4.35% between May 2020 and November 2023.
The RBA had maintained rates for the past nine consecutive meetings, but with inflation easing from its 2022 peak, the central bank sees room for adjustments.
In a statement, the bank said higher interest rates have helped balance supply and demand, though it warned of upside risks to inflation, particularly as labour market data remains unexpectedly strong.
"The labour market may be somewhat tighter than previously thought, creating uncertainties in the economic outlook," the RBA noted.
Despite the cut, the bank signaled a cautious approach moving forward, highlighting ongoing uncertainties in domestic growth and inflation trends.
đź“Š Key Takeaways:
✔️ First rate cut in over four years
✔️ Inflation easing but risks remain
✔️ Labour market strength could influence future decisions
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A man drove a car into a group of people in the southern German city of Passau on Saturday. Police say the motive may be personal and have not ruled out that the act was deliberate.
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A man drove a car into a group of people in the southern German city of Passau on Saturday. Police say the motive may be personal and have not ruled out that the act was deliberate.
Russia carried out a large-scale air attack on the eastern Ukrainian city of Kharkiv overnight and into Saturday evening, killing at least four people and injuring more than 60 others, including a baby, according to local officials.
Chinese Vice Premier He Lifeng will visit the UK from June 8–13 for the first round of China-U.S. economic and trade consultations. Talks will include U.S. Treasury and Commerce Secretaries and Trade Representative Jamieson Greer.
U.S. President Donald Trump has warned that there could be “serious consequences” if Elon Musk provides financial support to Democratic candidates challenging Republicans who back Trump’s tax-cut bill, signalling a sharp turn in their previously cordial relationship.
The Development Bank of Latin America and the Caribbean (CAF) announced Saturday a significant boost to its commitment to ocean health, pledging an additional $2.5 billion in investments aimed at protecting marine ecosystems and fostering sustainable blue economic activities.
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