Australia’s central bank is likely to lower interest rates again to drive increased hiring and boost households’ confidence that inflation will return to target.
The Reserve Bank made the comment in minutes of its June 4 policy meeting, when it eased the cash rate to 1.25% in the first reduction in almost three years. The report was released in Sydney Tuesday.
“The July meeting is clearly live, but we marginally favor August for the next 25 basis-point cut because it coincides with the Statement on Monetary Policy,” said Gareth Aird, senior economist at Commonwealth Bank of Australia, referring to the RBA’s quarterly
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