Reserve Bank cuts interest rates to historic low of 1.25 per cent

 · Most economists expected the official cash rate to drop from 1.5 per cent to 1.25 per cent today, and then to 1 per cent in August. Some – including Westpac’s Bill Evans – predict three cuts.

Today’s cut sees the cash rate fall by a further 25 basis points to a historic low of 1.00 per cent, just one month after it dropped from 1.5 per cent to 1.25 per cent on June 4 – which was.

The Reserve Bank has cut the official interest rate to a record low of 1 per cent. Tuesday’s 25 basis point cut to the cash rate follows a 25 basis point cut in June. The key reason the RBA is.

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.

It also was of the view that steady interest. the reserve bank wouldn’t have had to cut the cash rate for two months in a row,” he says. Chalmers says Lowe’s statement about consumption growth and.

At the moment, a home owner with a $750,000 loan at an average variable rate of 4.91% currently spends around $47,820 annually on mortgage repayments, so an interest cut of 25 basis points would save that same home owner 59 per year according to Finder.com.

The big four banks have risked more attacks from the Government after some of them failed to pass on the full amount of the Reserve Bank’s latest interest. the RBA has cut the official rate. It’s.

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Last month, the Reserve Bank of Australia cut the official interest rate to a historic low of 1.25 per cent. After a month of speculation, at their July meeting they have decided to cut rates again to 1% to a new record low. However, while a record low, the decision was not a surprise. Here’s what the experts have to say:

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.

Swiss ditch Libor as rate reference In Switzerland, the National Group on Swiss Franc Reference Rates presented the Swiss approach for the Swiss retail lending market last year. Indeed, LIBOR is highly relevant for the retail mortgage lending market in Switzerland.