Reserve Bank of Australia Governor Philip Lowe signaled an interest rate cut in June to underpin growth in employment.
Addressing the Economic Society of Australia in Brisbane on Tuesday, Lowe said, "A lower cash rate would support employment growth and bring forward the time when inflation is consistent with the target."
At the May board meeting, policymakers assessed that inflation was likely to remain low relative to the target and that a decrease in the cash rate would likely be appropriate.
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