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

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

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In an historic move, the Reserve Bank has cut the cash rate by 25 basis points to a record low of 1.25 per cent.

ANZ has become the only big four bank to reduce variable mortgage rates in full following the Reserve Bank’s cash rate cut. in full from July 12 after the cash rate was cut from 1.25 to one per.

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Australia’s central bank cut official interest rates by 0.25 percentage points to 1.25 per cent, a new record low and immediately following the decision, ANZ announced it would cut rates by 18.

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:

All four big banks have said they will cut their home loan interest rates after the Reserve Bank of Australia announced a cut to the official cash rate – the first movement in almost three years. While Commbank and NAB said they’ll pass on the entire 0.25 per cent drop, Westpac will only pass on 0.2 per cent and ANZ will cut it’s rates by 0.18.

On the eve of a historic RBA decision to cut rates to 1.25 per cent from 1.5 per cent – bringing the longest run of unchanged interest rates in the bank’s history to an end – Mr Frydenberg told.

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.

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The Reserve Bank of Australia has just announced it will cut interest rates by 25 basis points, to a record low of 1.25 per cent, meaning those with variable home loans could feel some relief.. That is, if the banks choose to pass it on. update: ing will pass on the full rate cut, effective 25 June..

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Reserve Bank cuts interest rates to historic low of 1.25pc. target now sits at the historically low level of 1.25 per cent.. a huge surprise if the Reserve Bank doesn’t cut interest rates.

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