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In Foreign Affairs

Australian central bank lowers interest rates again

1st October 2019

Australian central bank lowers interest rates again Pin It

The Reserve Bank of Australia has lowered interest rates in the country again. The central bank lowered the main interest rate by a quarter to 0.75 percent to the lowest level ever, among other things to give boost to a cooling economy and weak inflation.

It is the third interest rate cut in the country in a relatively short time. In June the interest rate was changed to 1.25 percent for the first time since August 2016 and the step to 1 percent followed in July. Bank Governor Philip Lowe said he would keep a close eye on developments on the labor market and adjust monetary policy if the economy needs more support.

Most economists were already counting on a reduction in Australian interest rates in advance.

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