In a surprising move, Australia's central bank has cut its benchmark lending rates by 25 basis points, downgrading the economic growth forecast amidst weak public demand. With inflation dropping significantly, experts predict further rate cuts could follow.
After a tumultuous trading session, Asia's financial markets are showing signs of optimism, with Japan's Nikkei leading the gains. Analysts attribute this rebound to a natural market bounce and developments in US-China trade relations.
Stock markets across the Asia-Pacific region have plunged for a second consecutive day following President Trump's announcement of new tariffs affecting 180 countries, igniting fears of a global trade war and economic downturn.
