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The RBA reduced the cash rate by 25 basis points today to just 3 per cent – the lowest level in almost 50 years.
document.addEventListener('DOMContentLoaded', (event) => { window.dataLayer = window.dataLayer || []; dataLayer.push({ 'event': 'articleTags', 'article_tags': ['Breaking News'] }); });Though the central bank noted that there had already been significant monetary and fiscal policy stimulus, it judged that there was scope for a further “modest” adjustment in light of the continued global contraction.
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“The stance of monetary policy, together with the substantial fiscal initiatives, will provide significant support to domestic demand over the period ahead.”
