RBA Says Broad-Based Inflation Weakness Helped Spur Rate Cut

  • Central bank considered waiting for more data in May decision
  • Lower-than-expected CPI not entirely due to temporary factors

RBA: 'Broad-Based' Inflation Weakness Prompts Rate Cut

A “broad-based” weakening of inflation pressures helped persuade Australia’s central bank that the economy would be assisted by an interest-rate cut even as the growth outlook remained steady.

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