Reserve Bank of Australia Addresses Slowing Economic Growth by Cutting Interest Rate to 3.6%

The Reserve Bank of Australia today cut its official cash rate by 25 basis points, to 3.6%, in a move aimed at countering slowing economic growth and declining inflation rates.

The decision came during a board meeting amid signs of slowing domestic economic activity and declining price levels, prompting the central bank to adopt a more accommodative monetary policy to stimulate spending and investment.

RBI Governor Michelle Bullock emphasized that the decision aims to support financial stability and promote sustainable growth in the country.