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By Robert Carnell, Chief Economist Head of Research, Asia-Pacific
Despite the many arguments for not easing, the RBA has cut rates again by 25bp, taking the official policy rate down to 0.75%.
A cut in line with consensus
Although this cut was in line with the consensus view, there was, in our opinion, still a very strong case for not moving at this meeting. The RBA now has only three (or possibly even fewer) more conventional cuts available to them before they will have to venture into unconventional monetary easing territory - negative rates,