03/05/2016
With the Aussie dollar on the rise and the national inflation rate falling, the RBA has made a move today to drop the cash rate by 0.25 basis points to a new historical low of 1.75% in an effort to cut the cost of borrowing and stimulate the economy. It is the first rate cut to occur since May last year and it brings the official cash rate to an all-time low.
It will be interesting to see if lenders move to cut home loan interest rates as a result of today's RBA decision, and by how much.