RBA holds rates at 4.1% but Michele Bullock says room for cuts if global trade war takes toll

The governor of the Reserve Bank of Australia, Michele Bullock, says the central bank is ready and able to cut interest rates if needed to shield the economy from a damaging global trade war. Bullock made the comments after the central bank’s monetary policy board held rates at 4.1%, in a decision that was widely expected and clearly telegraphed by Bullock at the previous meeting in February. The decision kept the independent central bank on the sidelines amid a hotly contested election campaign, although Bullock firmly rejected any suggestion that politics had swayed the board’s decision. The board did not

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