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At its meeting today, the Board decided to lower the cash rate by 25 basis points to 3.50 per cent, effective 6 June 2012.
Neal Durling from Medical Financial Planning said, it would appear that despite the US continuing to grow at a moderate pace, recent indicators are suggesting a weakening in Europe and moderation of growth in China. When combined with modest growth domestically the outlook for inflation would appear to have given the Reserve Bank room to take a more accommodative stance on monetary policy settings.
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