RBA trims cash rate by 25bps to 3.6%

By Sophia Rodrigues

The Reserve Bank of Australia cut the cash rate by 25bps to 3.60%, in line with expectations.

The rate cut was accompanied by updated forecasts for the economy in the quarterly Statement on Monetary Policy which showed underlying inflation to continue to moderate to the midpoint of the 2-3% target band.

The RBA remains cautious on the outlook, given heightened uncertainty about both aggredate demand and potential supply.