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Reserve Bank reduced the official cash rate by 25 base points to 3.5%, as expected.
The Central Bank said the economy was facing head winds, but inflation was contained and there were signs of growth.
He said the impact of tariffs and growing global uncertainty would be watched and would influence the pace of additional rate movements.
At the beginning of the Wednesday, Finance Minister Nicola Willis was convinced that the government would not exaggerately react to world events outside its control.
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