Reserve Bank lays ground for cut in interest rates

Aug 6th, 2008 | By David Harper | Category: Australia

The Australian: The Reserve Bank has changed course by flagging a cut in interest rates, most likely next month, in response to a rapidly slowing economy.

The bank is likely to start with a 0.5 percentage point cut, bringing the official rate down from its 12-year peak of 7.25 per cent to 6.75 per cent.

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