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.
To continue reading, register today
to enjoy limited access to the following:
- Daily trading news
- Funds coverage
- Features on big investment themes
- Comprehensive companies coverage
- Economic analysis