RBA cash rate decreased at 0.75%
For the 3rd time in five months the Reserve Bank of Australia has decided to reduce the official cash rate, this time to 0.75%, in a concentrated effort to boost the economy.
In making the decision to lower rates again the RBA has strongly reinforced its focus on supporting employment growth and boosting household consumption to restore inflation to within its target range of 2 -3% pa.
The RBA will also have been very conscious of the impact on Australia’s exchange rate and the competitiveness of our exports had it not reduced rates in line with global trends.
An AFG broker is here to work through the different rates available from our wide panel of lenders with you and an AFG broker is always available to ensure you have the right financial solution for your current and future circumstances.
If you’d like to have a chat about what today’s news means for you and your finances, please don’t hesitate to get in touch with an AFG broker.