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
The U.N. human rights office said Israeli forces may be committing unlawful killings near the military armistice line in Gaza, after data showed that ...
Israeli forces carried out more than 120 airstrikes across southern and eastern Lebanon on Tuesday (26 May), killing at least 31 people in one of the ...
Hamas has confirmed the death of its armed wing chief, Mohammad Odeh, who was killed in an Israeli strike in Gaza City, according to the Israeli milit...
Spanish police visited the headquarters of the ruling Socialist Party (PSOE) in Madrid on Wednesday as part of a widening High Court investigation int...
Tajikistan is hosting the Fourth International Conference on the International Decade for Action “Water for Sustainable Development” from 25 to 28...
Israeli forces carried out more than 120 airstrikes across southern and eastern Lebanon on Tuesday (26 May), killing at least 31 people in one of the heaviest bombardments in recent weeks, according to Lebanese security and health officials.
Hamas has confirmed the death of its armed wing chief, Mohammad Odeh, who was killed in an Israeli strike in Gaza City, according to the Israeli military and Gaza health officials.
Spanish police visited the headquarters of the ruling Socialist Party (PSOE) in Madrid on Wednesday as part of a widening High Court investigation into alleged attempts to interfere with judicial proceedings involving party and government figures.
Tajikistan is hosting the Fourth International Conference on the International Decade for Action “Water for Sustainable Development” from 25 to 28 May in Dushanbe, bringing together thousands of participants from governments, international organisations and financial institutions.
Start your day informed with the AnewZ Morning Brief. Here are the top stories for 26Â May, covering the latest developments you need to know. Â
Iran has called Monday's U.S. strikes on it 'a gross violation' of their ceasefire. The U.S. military said it carried out defensive strikes in southern Iran after boats were seen laying mines in the Strait of Hormuz. Meanwhile, the U.S. says a peace deal may require several more days.
Shortly after nine o’clock on Tuesday morning (26 May), a sleek white train eased into Tbilisi’s central railway station, a couple of minutes behind schedule, carrying passengers from Baku for the first time since 2020.
The new AnewZ documentary, TARGET: Yerevan, builds its explosive case on exclusive, secret recordings originally published by Minval Politika.Â
Dozens of people were killed in Israeli strikes on Lebanon on Tuesday, Lebanese officials said, straining a fragile ceasefire agreed between the countries in April. The attacks came as Iran accused the U.S. of violating a separate ceasefire with strikes near the Strait of Hormuz. Â
BP has removed its chair, Albert Manifold, with immediate effect, citing concerns over governance and conduct. The company said its board had unanimously decided that Manifold should no longer serve as chair or director. Â
The dual-class share structure outlined in SpaceX’s initial public offering (IPO) filing, which gives chief executive Elon Musk outsized control, has reignited one of Wall Street’s longest-running debates over corporate governance.
Kevin Warsh will be sworn in as chair of the U.S. Federal Reserve on Friday as policymakers consider higher interest rates to tackle inflation linked to the Trump administration’s Iran policy.
A government-mediated agreement has suspended an 18-day walkout by about 48,000 Samsung union members, easing fears of damage to South Korea's economy and global chip supply.
Asian stocks surged on Thursday as some vessels resumed passage through the Strait of Hormuz, while forecast-beating results at Nvidia and a suspended workers' strike at Samsung Electronics lifted shares of chipmakers.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment