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The Reserve Bank of Australia (RBA) has just set the record for its all-time lowest cash rate.
The RBA announced a 25 basis point cut to 1.25%, making official the speculation that the first rate alteration since August 2016 was the inevitable outcome of today’s meeting.
The consensus among economists is that the rate will be lowered by an additional 0.25% in the near future, a majority forecasting the second decrease to be implemented in August.
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