Economics
Australia’s Central Bank Looks Likely to Cut Rates — From the Outback
- Most economists see the RBA lowering rates by 25 basis points
- RBA’s Darwin board meeting will be first in over 50 years
Darwin, Australia, in 2015.
Photographer: Carla Gottgens/Bloomberg
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The Reserve Bank of Australia’s policy decision on Tuesday is more unusual than most.
Not only could Governor Philip Lowe and his board deliver a second consecutive interest-rate cut –- the last time the RBA did that was in 2012 -- it’s also the first time they will meet in Darwin in more than 50 years.