Market News
Australia's central bank cuts rates, cautious on further easing - REUTERS
By Stella Qiu and Wayne Cole
Summary
- RBA cuts rates for first time since 2020 pandemic
- Cautious stance limits probability of further cuts
- Rate cut welcome news for Prime Minister Albanese
SYDNEY, Feb 18 (Reuters) - Australia's central bank cut rates for the first time in more than four years on Tuesday but warned it was too early to declare victory over inflation and was cautious about the prospects of further easing.
The rate cut will provide some relief to borrowers and comes as good news for Prime Minister Anthony Albanese, who is facing a tough election to be held no later than May 17. Speculation is growing that he may use the opportunity to call an early election.