At its meeting on Tue 2.10.2012, the Reserve Bank Board decided to lower the cash rate by 25 basis points from 3.5% to 3.25%. Reserve Bank Governor Glenn Stevens said the Board judged that, on the back of international developments, the growth outlook for next year looked a little weaker, while inflation was expected to be consistent with the target. The Board therefore decided that it was appropriate for the stance of monetary policy “to be a little more accommodative”.
[LTN 190, 2/10]