A household with a $750,000 loan will see their monthly repayments reduce by $115 if their bank adjusts its mortgage rate accordinglyFollow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastThe Reserve Bank has cut the cash rate to 4.1% with a quarter-point reduction, offering a reprieve to indebted households buffeted by years of high living costs and heavy mortgage repayments.The decrease is the first since the early days of the Covid-19 pandemic, and has arrived just in time for the Labor government to campaign on its economic credentials before an election to be fought on cost-of-living policies.Sign up for Guardian Australia’s breaking news email Continue reading…
Source link : https://www.theguardian.com/australia-news/2025/feb/18/rba-slashes-interest-rates-to-41-in-its-first-cut-since-the-early-days-of-the-pandemic
Author : Jonathan Barrett Senior business reporter
Publish date : 2025-02-18 04:03:00
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RBA slashes interest rates to 4.1% in its first cut since the early days of the pandemic
