RBA Rate cut February 2015!!

Posted Tuesday, 03 February 2015 at 14:47 by Shape Home Loans
Tagged: interest rates | news
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 The Reserve Bank of Australia cuts interest rate for first time in 17 month!

The Reserve Bank has cut interest rates for the first time since August 2013, reducing the official cost of borrowing by 25 basis points.

The move takes the cash rate down to 2.25 per cent, a record low since the Reserve Bank gained independence and started targeting inflation in the 1990s.

The official cash rate target had been steady for 17 months prior to today's decision, the equal longest period of rate stability since an 18-month run in the mid-1990s.

Shape Home loans will prepare a list of lenders later in the month on how much of the rate cut each lenders will be passing on. 

Source: RBA and http://www.abc.net.au/