AsianFin -- The Reserve Bank of Australia (RBA) on Tuesday lowered its key cash rate by 25 basis points to 3.60%, the lowest level in two years. The decision reflects signs of slowing inflation and a softer labour market. However, the RBA remained cautious about the likelihood of further rate cuts.

Concluding its two-day policy meeting, the RBA board noted that current data indicates core inflation is expected to ease toward the midpoint of its 2% to 3% target range, even with a gradual loosening of monetary policy.