Sebastian thinks it's likely the bank will cut rates again when it next meets in February, though he predicts the rate will not be lowered below 2.75 percent.The bank's decision also follows the release of weaker-than-expected retail spending figures just weeks before Christmas. The Australian Bureau of Statistics on Monday reported retail spending remained flat in October, surprising economists who had predicted a rise of 0.4 percent.
Australia Lowers Key Interest Rate To 3 Percent
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