Aussie rate cut demands fiscal backup, says ClaraMarquesRTR:
The Reserve Bank of Australia on June 4 lowered its benchmark interest rate by 0.25 percentage point to a record low 1.25%, the country’s first easing of monetary policy since mid-2016. All but three of 35 economists in a Reuters poll had forecast a cut to the so-called cash rate.
The RBA said it “took this decision to support employment growth and provide greater confidence that inflation will be consistent with the medium-term target”.
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