Now that the RBA has cut the official cash rate, here’s how you can benefit

Those rubbing their hands in glee at the thought of the official cash rate falling to 1% tomorrow will soon have sore hands. It turns out the Reserve Bank of Australia (RBA. can continue to.

ANZ has passed on the Reserve Bank rate cut in full, making it the last of the big four banks to meet or exceed Tuesday’s slashing of the official cash rate. The bank said. while Westpac exceeded.

The official RBA cash rate is now. you can read about getting a competitive interest rate on your savings, despite the current economic climate. The winners and losers if the May 2016 RBA Rate Cut.

After months of speculation, the Reserve Bank of Australia cut interest rates at its August monetary policy meeting, taking the official cash rate to 1.50%, the lowest level on record.

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Given the cash rate decision is made by the RBA in the context of trying to keep inflation within a certain band, currently a target range of 2% to 3%, to support healthy growth in the economy, Australia’s exchange rate is a very important factor.

At 2:30pm (sydney time), the RBA announced that it had decided to slash the official cash rate by another 25 basis points to 2 per cent after having sat on its hands for the last two meetings.

But basically what I want to talk about is why the RBA will not be raising its cash rate this year: 1) Inflation All central banks in the developed world are struggling with it, not just the RBA.

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The Reserve Bank of Australia (RBA) has delivered another 25 basis point cut to the official cash rate, bringing the rate to a new historic low of 1.00%. These two rate cuts could give the average australian mortgage holder with a $545,000 home loan an approximate saving of $220 per month, if lenders pass on the cuts in full.

All big four bank economists expect the RBA to break the longest run of unchanged rates by cutting the official cash. now drifting higher – they have to do something." uts business school professor.

Now that the RBA has cut the official cash rate, here’s how you can benefit.. Now that the RBA has cut the official cash rate, here’s how you can benefit.. it’s official. The economy is now at its worst point since the 1991 recession. So much for financial responsibility.