RBA cuts cash rate to new low of 1.25%
Tue 4 June 2019 - 2:43 pmNews
It is the central bank’s first move on rates since August 2016 and follows another month of weak economic data, most notably an unexpected rise in the unemployment rate for April to 5.2 per cent.
RBA Governor Philip Lowe had indicated a rate cut was on the table ahead of Tuesday’s board meeting after resisting a cut last month amid the federal election campaign.
By: Alex Druce Source: AAP