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The Reserve Bank of Australia cut its cash rate by 25 basis points to 0.75 per cent. The statement cited downside risks from US-China trade and technology disputes, which are weighing on global trade and investment.
The bank noted the Australian dollar was at its lowest level in recent times.
Lower Australian rates tend to weaken the Australian dollar, which can make Australian grain and barley cheaper in global markets. The trade-dispute risks it describes also signal softer demand for commodities.
rba.gov.auscheme=AGLSTERMS.AglsAgent, corporateName=Reserve Bank of AustraliaOct 1, 2019Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
