Another RBA Rate Cut!
At its meeting today, the RBA board decided to lower the cash rate for the second month in a row by another 25 basis points to 1.00 per cent.
Attention now turns to lenders, again, as we wait to see how this decision may affect home loan customers.
In a statement accompanying the decision, RBA Governor Philip Lowe said:
"Today's decision to lower the cash rate will help make further inroads into the spare capacity in the economy. It will assist with faster progress in reducing unemployment and achieve more assured progress towards the inflation target. The Board will continue to monitor developments in the labour market closely and adjust monetary policy if needed to support sustainable growth in the economy and the achievement of the inflation target over time."
To read the full statement, please go to: https://www.rba.gov.au/media-releases/2019/mr-19-18.html