Tuesday 05 Jun 2012
The RBA made a surprise move at its monthly meeting today, further reducing the cash rate 25 basis points to 3.50%.
Weaker than expected retail trade numbers were expected to persuade Australia's central bank to leave interest rates alone but it seems a lift in construction data prompted the move.
The reduction comes after the RBA went a long way to easing pressure on mortgage holders last month by slashing the cash rate by 50 basis points.
Read more here http://edm.realestate.com.au/pub/sf/FormLink?_ri_=X0Gzc2X%3DWQpglLjHJlTQGnoPgBhpO8lBHcPDicEzgldBzc0pzeBl7lbVXMtX%3DWQpglLjHJlTQGlHI4zdGLvFgTIJWPXPJgCApmzdzeU6gwY0&_ei_=EhFSUTaZ_iTN6giUCJRiiPfrmeGJfURCT0htke4Q76XMILWbINzQcrSOPJuH8aY.