Reserve Bank cuts interest rates to historic low of 1.25 per cent
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The Reserve Bank has cut rates to a new record low of 1.25 per cent after 32 consecutive months on hold, signalling good news for mortgage holders.
In the first official rate move in almost three years, the Reserve Bank announced it will lower the cash rate from 1.5 per cent to 1.25 per cent. The reduction has been widely anticipated, and comes after the RBA signalled it could cut interest rates last month to curb unemployment rising.
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The official cash rate was slashed by another 25 basis points today and now sits at just one per cent – down from 1.25 per cent last month. It is the lowest level in Australian history, and the Reserve Bank hopes it will be enough to reverse the trend in weakening consumption and rising unemployment.
· The Reserve Bank has made the historic move of cutting interest rates to an all-time low of 1.25 per cent, ending weeks of frenzied speculation. rba governor philip lowe made the announcement this.
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interest rates; All eyes on Reserve Bank ahead of cash rate decision. The RBA could cut the official cash rate to a new record low of 1.25 per cent today – and the decision is looking like a.
Australia’s central bank cut official interest rates by 0.25 percentage points to 1.25 per cent, a new record low and immediately following the decision, ANZ announced it would cut rates by 18.
The Reserve Bank has cut the official cash rate for the first time in almost three years. This is what the record low means for you. The Reserve Bank has made the historic move of cutting interest rates to an all-time low of 1.25 per cent, ending weeks of frenzied speculation.
The Reserve Bank of Australia cut rates by 25 basis points to a historic low of 1.25 per cent as the pace of growth slowed to levels not seen since the global financial crisis. Australia dodged much of the global economic tumult of the past two decades as Beijing lapped up its vast iron ore, coal and other mineral deposits.