On Monday the Reserve Bank of Australia’s (RBA) own 0.25% reduction earlier in the day. The RBA rate move had been expected,
For the Australian economy and its dollar that turned out to be a brief respite with the potential economic effects of the Coronavirus in China and around the world reviving all same worries in February.
The RBA reduction in the cash rate by 25 basis points to 0.5% was fourth cut in the last ten months. From June to October 2019 the bank cut its base rate by 0.25% three times.
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