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Reserve Bank Cuts Rate to 3 Per Cent

Official Cash Rate Cut To 3 Per Cent. The Reserve Bank of Australia (RBA); in its last board meeting for 2012 cut the official cash rate by 25 basis points on Tuesday 4th to 3.00 per cent, effective December 5th. RBA Governor Glenn Stevens sited the global growth forecast to be below average with uncertainty over America’s fiscal policy, a … [Read more...]

Reserve Bank Meeting October 2012

Reserve Bank Cuts Cash Rate by 25 Basis Points. After the Reserve Bank met on Tuesday 2nd October 2012, Glen Stevens announced they would drop the official cash rate by 25 basis points or a quarter of one percent to 3.25 percent. The decision was mainly due to the world economic growth outlook being weaker than expected, growth in China has … [Read more...]