Economic forecasts had assumed rates at 1% by year-end
The board has not yet made a decision, much depends on labour market
Rate decision was not in response to deterioration in outlook since May
Rate cut is to lead lower AUD than otherwise would have been the case
Easing aimed at spurring jobs growth, lifting inflation
One option is for fiscal support, including spending on infrastructure
Banks should fully pass through rate cut through mortgage rates
Well aware that savers will be disappointed by rate cut
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