India, May 20 -- Australia's central bank lowered its benchmark rate by a quarter-point for the second time this year as risks to inflation became more balanced, while uncertainties regarding economic outlook increased due to trade protectionism measures.
The policy board of the Reserve Bank of Australia, governed by Michele Bullock, decided to cut the cash rate target to 3.85 percent from 4.10 percent.
The current rate was the lowest in two years. Previously, the bank had reduced the rate by 25 basis points in February, which was the first cut since 2020. The board judged that the risks to inflation became more balanced. Inflation reached the target band and upside risks appear to have diminished as international developments are set to ...