Australia's central bank expects underlying inflation to fall faster than previously projected as it downgraded the economic outlook, although a still tight labour market is likely to create some lingering price pressures.

The RBA cut its cash rate by 25 bps to 4.10%, initiating a new easing cycle amid easing inflation. Click here to read what this means for Australian equities.

An interest rate cut shows Australia is pastthe worst on inflation, says treasurer:: Canberra, AustraliaJim Chalmers/Australian Treasurer“This is very welcome news for millions of Australians. This is the rate relief that Australians need and deserve.