RBA interest rates decision: relief for borrowers as Reserve Bank cuts cash rate to 3.6%
by Patrick Commins and Luca Ittimani from on (#6Z8RD)
RBA also warns of persistently' lower productivity growth than previously expected as it reveals interest rate decision
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The Reserve Bank of Australia delivered a much-anticipated rate cut at its meeting on Tuesday and flagged the potential for two or three more, while warning of slow economic growth for the foreseeable future.
The RBA's monetary policy board voted unanimously to drop the official cash rate target to 3.6%, from 3.85%.
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