ABC News
The Reserve Bank has delivered its third interest rate cut of 2025, with a 0.25 percentage point reduction at its August board meeting.
That takes the cash rate to 3.6 per cent for the first time since April 2023.
The move had been overwhelmingly anticipated by financial markets and economists after the surprise decision to hold rates steady in July.
It was a unanimous decision by board, which had been divided last month.
Tuesday’s cut follows a further easing of inflation in the June quarter, which RBA governor Michele Bullock last month highlighted as the crucial piece of data the monetary policy board was waiting for.