The Trader 

Market Outlook: Australia Q1 GDP disappoints

The Trader

No wonder the Reserve Bank of Australia yesterday trimmed the cash rate to a new record low at 1.25 per cent. GDP data published this morning, covering the first quarter of the year, showed that it grew by a lower than expected 0.4 per cent over the 3 months, and at an annualised rate of just 1.8 per cent. This is the slowest pace in almost a decade – 1.6 per cent in Q4 2008 and 1.4 per cent in Q3 2009.

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