Following this morning's Board meeting, the RBA has reduced the cash target rate by 0.25% to 2.25%. For the past year and a half, the cash rate has been stable, as the Board has taken time to assess the effects of the substantial easing in policy that had already been put in place and monitored developments in Australia and abroad. At today's meeting, taking into account the flow of recent information and updated forecasts, the Board judged that, on balance, a further reduction in the cash rate was appropriate. This action is expected to add some further support to demand, so as to foster sustainable growth and inflation outcomes consistent with the target. Here is a link to the accompanying statement: (VIEW LINK) What a rollercoaster... @dscutt @jeliseo @cweston @msomasundaram @SKoukoulas


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James Marlay

No mention of housing investment in the RBA release...