Australia slashes interest rates to record low
The Reserve Bank of Australia cuts the cash rate to 0.25%, making it the latest lender of last resort to announce emergency measures amid the coronavirus crisis. – EPA pic, March 19, 2020.
AUSTRALIA’S central bank cut interest rates to a record low and moved to pump billions into the financial system today, in an emergency bid to pull the economy out of a pandemic-induced free-fall. The Reserve Bank of Australia cut the cash rate by a quarter of a point to 0.25%, making it the latest lender of last resort to announce emergency measures during the fast-moving Covid-19 crisis.
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