At today’s meeting the Reserve Bank of Australia (RBA) reduced the cash rate by 0.25% to 3.25% pa.
The global economy is slowing further, China taking the heat off is impacting the Aussie world. Commodity prices have been falling, hitting many miners and related sectors. Fortescue being an obvious one having to renegotiate debts. The retail sector has continued to suffer, with the industry crying out for this cut today.