emirates7 - Australia’s central bank on Tuesday lowered its benchmark cash rate by 0.25 percentage points to 3.60 percent — the lowest level in two years — citing easing inflation and a softer labor market, while signalling caution about further cuts.

Concluding a two-day policy meeting, the Reserve Bank of Australia said that recent data and updated projections indicate core inflation is likely to settle near the midpoint of its 2–3 percent target range, assuming a gradual relaxation of monetary policy.