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RELATED: RBA slashes cash rate to all-time low of 1.25 per cent. Major lenders NAB and Commonwealth Bank announced Tuesday afternoon each would pass on the full 0.25 per cent cut to customers.
He says the main worry is how Australia’s consumption growth has slowed, due to low wage. The Reserve Bank has cut interest rates to 1% – the lowest rate in history. That’s a 0.25 percentage point.
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In what was a widely expected move, the Reserve Bank of Australia has cut the cash rate to an all-time low of 1.25 per cent. At their monthly meeting on June 4, the Board elected to lower the cash rate by 25 basis points, explaining the decision was aimed at supporting employment growth and providing greater confidence that inflation would be consistent with the medium-term target.
Australia’s central bank cut its cash rate by a quarter of a point to a record low of 1 per cent on Tuesday, a largely expected decision as policymakers try to spur economic growth and drive.
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.
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.
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The Reserve Bank of Australia cut interest rates in June to a historic low of 1.25 per cent after 33 consecutive months at 1.50%. The RBA Rate cut to reduce joblessness and to achieve more progress towards inflation target. Highlights. Prior 1.50%; The decision to cut is to support jobs growth; Rate cut is to make further inroads into spare capacity
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.
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.