Highlights: Some indicators point to a heightened risk of recession in the US, but for now inflation remains slightly above target and wages are still expected to rise. The global downturn in manufacturing is deepening, although the services sector remains a bright spot, supported by consumer spending. UK prime minister Boris Johnson remains hamstrung…

At its meeting today, the Board decided to lower the cash rate by 25 basis points to 0.75 per cent.   While the outlook for the global economy remains reasonable, the risks are tilted to the downside. The US–China trade and technology disputes are affecting international trade flows and investment as businesses scale back spending plans because of…