Australia’s central bank has reduced its benchmark interest rate for the first time since October 2020 as the nation’s inflation cools.

Australia's central bank cut interest rates on Tuesday for the first time since the depths of the 2020 pandemic, saying progress had been made on inflation though it was still cautious about prospects of further policy easing.

Three of the big four banks cut interest rates within minutes of the RBA decision on Tuesday. Here’s why they reacted so fast.

The Reserve Bank of Australia on Tuesday cut benchmark interest rates for the first time in over four years, joining ranks with other major global central banks, as softening inflation allows room for easing policy.

The Reserve Bank board cuts interest rates, decreasing the cash rate by 0.25 of a percentage point to 4.1 per cent.

The government-appointed Reserve Bank of Australia board begrudgingly cut rates to try to ease the political crisis produced by the widespread working-class hostility that has developed to the Labor government.

The Reserve Bank has cut rates, but deeper structural issues remain. Will economic policy shifts be enough to prevent long-term stagnation?

All four of Australia's major banks make their announcement just minutes after the RBA made its decision public.

Australia's central bank expects underlying inflation to fall faster than previously expected as it downgraded the economic outlook, although a still tight labour market is likely to create some lingering price pressures.

The Reserve Bank of Australia cut interest rates for the first time since 2020 on Tuesday, joining its international counterparts in the global easing cycle.

The Reserve Bank of Australia (RBA) announced a rate cut of 25 basis points, bringing the cash rate down to 4.10% on Tuesday. This move marks the first rate reduction since November 2020, signaling the bank’s concern over domestic economic uncertainties.