The Reserve Bank of Australia (RBA) lowered its cash rate target by 25 basis points to 3.60 per cent at its meeting on Tuesday, citing a continued moderation in inflation. Inflation has fallen significantly since its 2022 peak as higher interest rates helped bring demand and supply into closer balance, the RBA said. In the June quarter, trimmed mean inflation slowed to 2.7 per cent year-on-year, in line with May forecasts, while headline inflation stood at 2.1 per cent, partly reflecting temporary cost-of-living relief measures. Attribution: Amwal Al Ghad English Subediting: Y.Yasser
