The Reserve Bank made the comment in minutes of its June 4 policy meeting, when it eased the cash rate to 1.25% in the first reduction in almost three years. The report was. In a speech following.
The RBA has slashed interest rates in the first cash rate move in almost three years. The move by the RBA to cut rates to 1.25% was widely expected, and no doubt the focus will now turn to mortgage rates; how low will they go? Mortgage rates for owner occupiers are already around the lowest level since the 1960s and lenders are generally expected to pass on most, if not all of the cash rate cut to mortgage interest rates.
The Reserve Bank of Australia (RBA) has announced a cut to the official interest rate – the first cut for almost three years. The 0.25 basis point cut brings the official cash rate down to 1.25 per cent. The decision reflects concerns about the economic outlook, wages growth and inflation.
On Tuesday afternoon (4 June), the Reserve Bank announced that it was dropping the official cash rate for the first time in almost three years in order to "support employment growth and provide greater confidence that inflation will be consistent with [its] medium-term target".. While many lenders had reduced interest rates in May, following the official cash rate reduction, several.
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It marks the first change to the rate in almost three years and the Reserve Bank of Australia said it expected the 0.25 per cent cut to help reduce unemployment and boost subdued inflation.
On top of that, if the RBA does cut rates, and banks pass it on in full, a person with a typical $500,0000 mortgage will save an extra $73 a month, or $875 a year after tax.
"We have carefully considered the RBA rate decision and the current funding environment, together with how we continue to meet our regulatory commitments, capital requirements, and community expectations." NAB interest rate cuts . NAB also announced it was passing on the full rate cut of 25 basis points to all variable rate products.
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The Reserve Bank of australia (rba) cut the official cash rat Broking industry reacts to cash rate move – The Adviser Senior stakeholders in the broking industry have reacted to the Reserve Bank’s first monetary policy adjustment in almost three years.