By General
The RBA lowered the cash rate by 25 basis points to 4.10 per cent at its February board meeting. The decision to reduce the rate from a 13-year high reflects the central bank's assessment that monetary policy no longer needs to remain as restrictive following a benign December quarter inflation report. Westpac Chief Economist Luci Ellis had expected the move, saying in her most recent note that the RBA would draw confidence from the decline in the trimmed mean and would "act accordingly".
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