SYDNEY, Aug. 2 (Xinhua) -- Australia's central bank has cut the official cash rate to a new record low 1.5 percent on Tuesday as inflation "remains quite low" despite the local economy continuing to make the necessary adjustments. Australia has been toying with low interest rates since 2013 which has been supporting domestic demand and exports, while the banks have been in a position to lend have been assisting the economy to make the necessary adjustments from mining-led growth. But Reserve Bank of Australia governor Glen Stevens said the subdued growth in...
↧