RBA ready to use rapid-fire rate cuts if Trump policies rattle Australia’s economy, minutes reveal

Reserve Bank vetoed a 50 basis point cut in cash rate last month, but is willing to take such action if global economy demands it Australia news live: latest politics updatesGet our breaking news email, free app or daily news podcastThe 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.Sign up for Guardian Australia’s breaking news email Continue reading...

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