The Reserve Bank of Australia is prepared to “respond decisively” to any deterioration in the global economy, paving the way for rapid-fire cash rate cuts if Donald Trump’s tariffs spark further market upheaval.
The 20 May RBA meeting minutes, released on Tuesday, show the rate-setting board discussed implementing a bumper 50 basis point cut last month. But they decided such a move was not yet warranted because there were no immediate signs the economy had been significantly affected by the US trade policy.
