Interest rates hit a new record low

The Reserve Bank of Australia has cut the official cash interest rate from 2.0 per cent to a new record low of 1.75 per cent. The Reserve Bank has never had interest rates set at this low level. Most economists had been expecting the RBA to keep rates on hold at 2.0 per cent pending the federal budget, also delivered yesterday, and taking into consideration the strong labour market.

Source: bankheadlines.com.au

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