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John Hawkins, Senior Lecturer, Canberra School of Politics, Economics and Society, University of Canberra

RBA cuts interest rates, ready to respond again if the economy weakens further

the Reserve Bank Economy Interest Rates Reserve Bank Inflation Michele Bullock Australia United States Reserve Bank of Australia Economic Growth
Reserve Bank Governor Michele Bullock speaks at a forum during the World Bank/IMF meetings in Washington in April. Jose Luis Magana/AP

The Reserve Bank of Australia cut the official interest rate for the second time this year, as it lowered forecasts for Australian economic growth and pointed to increasing uncertainty in the world economy.

The bank lowered the cash rate target by 0.25%, from 4.1% to 3.85%, saying inflation is expected to remain in the target band.

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