Treasurer lauds economy as rate cut looms

Marnie Banger and Angus Livingston
(Australian Associated Press)

 

Treasurer Josh Frydenberg says the federal government will do what it takes to keep the Australian economy humming, as the Reserve Bank appears likely to cut the official interest rate.

RBA Governor Philip Lowe says the central bank will consider cutting the rate at its board meeting in two weeks, in hopes of reducing unemployment and buoying inflation.

“A lower cash rate would support employment growth and bring forward the time when inflation is consistent with the target,” Dr Lowe said in a spee