Australian Base Rate Cut to 2.25%

The Reserve Bank of Australia cut their base rate by 25 basis points last night to an all-time low of 2.25%. There was quite a lot of market speculation that they would, so the Australian Dollar was already weak but it dropped a few more cents on the announcements. There was also data released including a drop in building approvals, a fall in consumer confidence and a slightly narrower trade deficit.

Comments are closed.