RBA should lower rates: Baillieu

Victorian Premier Ted Baillieu has urged the Reserve Bank of Australia (RBA) to lower interest rates.

The RBA is due to meet on Tuesday to decide whether to alter the 4.25 official cash rate, which it left unchanged last month.

Mr Baillieu said businesses would benefit from lower interest rates during the current challenging economic environment.

“It’s not for state governments to intrude but I think Victorian businesses would very much welcome some interest rate relief,” he told the Liberal Party’s state council meeting on Sunday.

Australian Workers’ Union boss Paul Howes last month called for the RBA board to lower rates to put downward pressure on the Australian dollar.

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