Cash rate reduced by 0.25% to 3.5%

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.


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