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.
The Reserve Bank of Australia has cut official interest rates to a new record low of 1.25 per cent, as it looks to turn around sluggish employment, wages and inflation.
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The Reserve Bank has cut interest rates by 25 basis points to a new record low of 1.25 per cent in what is the first movement in cash rates since August 2016. The announcement comes as no surprise, with the majority of experts and economists expecting the Reserve Bank would make its first move in nearly three years just weeks after the Federal Election on 18th May.
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.
Reserve Bank governor Philip Lowe slashed the official cash rate on Tuesday to a fresh, historic low of 1.25 per cent but said in a speech last night it would be reduced further to help stimulate.
The Reserve Bank of Australia has cut the cash rate by 25 basis points to a new historic low of 1 per cent. The RBA’s decision to lower the cash rate marks the second interest rate cut in two months as RBA governor Philip Lowe says the central bank’s focus is on the nation’s economy and rising unemployment.
Young homebuyers scramble as prices rise faster than incomes For millennials looking to buy their first home, the hunt feels like a race against the clock. In the seven years since the housing crash ended, home values in more than three-quarters of U.S. metro.
The Reserve Bank of Australia has just announced it will cut interest rates by 25 basis points, to a record low of 1.25 per cent, meaning those with variable home loans could feel some relief.. That is, if the banks choose to pass it on. Update: ING will pass on the full rate cut, effective 25 june..
The Reserve Bank has cut its official interest rate by 0.25 percentage points to a new record low of 1.25 per cent. RBA cuts rates to support jobs growth in the face of rising unemployment ANZ is.