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RBA cuts cash rate to record low of 0.5 percent

The Reserve Bank of Australia has slashed the cash rate by 25 basis points to a record low of 0.5 percent.

Analysts are suggesting the decision can be seen as a reaction to the coronavirus and its huge effect on global commerce.

Owen Clare from Baillieu Stockbroking told Gareth Parker on Mornings global economies around the world are suffering so it’s unsurprising the RBA has made this decision.

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