The central bank warned the economy was incapable of growing faster than 2 per cent per year in a reality check before Treasurer Jim Chalmers’ roundtable.

Australia’s central bank has reduced its benchmark interest rate by a quarter percentage point for a third time this year to 3.6%, with inflation tamed and economic growth stalling

Australia's central bank cut interest rates on Tuesday for a third time this year and signaled further policy easing might be needed to meet its inflation and employment goals as the economy lost some momentum.