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.
đ Key Takeaways:
âď¸ First rate cut in over four years
âď¸ Inflation easing but risks remain
âď¸ Labour market strength could influence future decisions
Massive crowds are gathering in the streets of Tehran on Monday for the funeral procession of Iran's slain former supreme leader, Ali Khamenei, as ...
Pakistan is seeking fresh Turkish investment after Prime Minister Shehbaz Sharif and President Recep Tayyip ErdoÄan agreed to deepen economic coopera...
Burglars have stolen jewellery worth several million euros in a lightning raid on the MusĂŠe Lalique in eastern France, less than a year after a high-...
Massive crowds are gathering in the streets of Tehran on Monday for the funeral procession of Iran's slain former supreme leader, Ali Khamenei, as part of a week-long farewell. His son and designated successor, Mojtaba Khamenei, has yet to make a public appearance.
Burglars have stolen jewellery worth several million euros in a lightning raid on the MusĂŠe Lalique in eastern France, less than a year after a high-profile theft at the Louvre Museum.
The 30 June edition of AnewZ's Daybreak explored the growing strategic importance of the Middle Corridor, focusing on Georgia's deepening partnership with Kazakhstan and the wider effort to strengthen connectivity between Europe, the South Caucasus and Central Asia.
The 30 June edition of AnewZ's Prime Time explored the fragile ceasefire between Iran and the U.S., as conflicting statements about possible talks in Doha fuelled uncertainty over the future of negotiations.
The death toll from Venezuela's devastating twin earthquakes has risen to 3,342, according to the country's information ministry, as rescue teams continue searching affected areas and survivors face an uncertain recovery.
Mexico's national football team has returned luxury Rolex watches gifted by American content creator Stevewilldoit after concerns that they could conflict with FIFA's ethics rules.
Governments are tightening restrictions on teenagersâ use of social media amid growing concerns over mental health, online safety and platform design, but questions remain over enforcement and whether bans can meaningfully change behaviour.
President Donald Trump said Iran is keen to reach a deal with the United States, claiming Washington had paused engagement to allow funeral ceremonies for late Iranian Supreme Leader Ali Khamenei.
Thousands of mourners gathered in Tehran on Sunday as Iran held funeral prayers for Ayatollah Ali Khamenei and four members of his family on the second day of mass processions. Three of Khamenei's sons attended the ceremony, while his successor, Mojtaba Khamenei, made no public appearance.
European carmakers have urged the European Union to make sure new âMade in EUâ rules do not put existing investments in TĂźrkiye and Morocco at risk.
Microsoft is expected to announce a new round of job cuts as early as next week as the technology giant looks to reduce costs, according to reports.
A Swedish court has ordered Alphabet-owned Google to pay about $1.5 billion in antitrust damages to price comparison platform PriceRunner, in one of Europe's largest competition-related awards against a major technology company.
U.S. President Donald Trump earned more than $1bn from cryptocurrency-related business ventures last year, according to his mandatory 2025 financial disclosure.
Rocket Lab has agreed to acquire Iridium Communications in an $8 billion deal, giving the space company a global satellite communications network and accelerating its expansion beyond launch services. The acquisition marks a major step in its ambition to become a fully integrated space business.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment