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Australia cuts interest rates to more than 2-year lows, downgrades economic growth forecast
Australia’s central bank cut its benchmark lending rates by 25 basis points on Tuesday, while downgrading the annual economic outlook for the country. The Reserve Bank of Australia reduced its economic growth forecast for the year to 1.7% from 2.1%, saying that a weaker-than-expected rise in public demand in early 2025 was unlikely to be offset through the rest of the year. The country’s benchmark rates are now at 3.6%, the lowest since April 2023, and in line with expectations of economists polled by Reuters. The RBA said that inflation had dropped “substantially” since the peak in 2022, with steeper ... (full story)
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Jerome “Too Late” Powell must NOW lower the rate. Steve “Manouychin” really gave me a “beauty”when he pushed this loser. The damage he has done by always being Too Late is incalculable. Fortunately, the economy is sooo good that we’ve blown through Powell and the complacent Board. I am, though, considering allowing a major lawsuit against Powell to proceed because of the horrible, and grossly incompetent, job he has done in managing the construction of the Fed Buildings. Three Billion Dollars for a job that should have been a $50 Million Dollar fix up. Not good! *TRUMP: CONSIDERING ALLOWING A MAJOR LAWSUIT AGAINST POWELL *TRUMP: CONSIDERING POWELL LAWSUIT OVER FED BUILDING MANAGEMENT
At its meeting today, the Board decided to lower the cash rate target by 25 basis points to 3.60 per cent. Inflation has continued to moderate. Inflation has fallen substantially since the peak in 2022, as higher interest rates have been working to bring aggregate demand and potential supply closer towards balance. In the June quarter, trimmed mean ...
Reserve Bank Of Australia Governor Bullock Says Forecasts Suggest Interest Rates Might Need To Be Reduced To Keep Prices Stable RESERVE BANK OF AUSTRALIA GOV BULLOCK: FORECASTS IMPLY CASH RATES MIGHT NEED TO BE LOWER FOR PRICE STABILITY THERE WAS NO DISCUSSION OF LARGER RATE CUT NEUTRAL RATE IS A LONG RUN CONCEPT BUT ONLY IN THE ABSENCE OF SHOCKS DONT PUT A LOT OF EMPHASIS ON NEUTRAL RATE Australia’s Reserve Bank Official Bullock Says The Neutral Rate Range Is About 1 to 4% RBA Governor Philip Bullock Says The Board Will Make Decisions On A Meeting-By-Meeting Basis
