The Reserve Bank has cut official interest rates by 0.25 percentage points to a new low of 1 per cent, the second consecutive month it has cut rates.
The bank said it would continue to cut rates if the unemployment rate didn't show any improvement.
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Matthew Cranston is the United States correspondent, based in Washington. He was previously the Economics correspondent and Property editor. Connect with Matthew on Twitter. Email Matthew at mcranston@afr.com
