Australia's Central Bank Cuts Rates Amid Inflation Progress

• Australia's central bank has cut interest rates for the first time since 2020, signaling progress on inflation but remaining cautious about further easing.
• The rate cut is a positive development for Prime Minister Albanese, who faces a challenging election ahead.
• Financial markets reacted with a slight rise in the Australian dollar, while the probability of another rate cut in the near term remains low.

Source: Reuters