Reserve Bank of Australia Cuts Rate 25bps to 4.25%

The Reserve Bank of Australia (RBA) cut the cash rate by 25 basis points to 4.25% from 4.50% previously. The RBA said: "Overall, the Board concluded, on the basis of all the available information, that the inflation outlook afforded scope for a modest reduction in the cash rate. The Board will continue to set policy as needed to foster sustainable growth and low inflation over time." ...