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Mixed reactions to RBA rate cut
2-September-08
Written by Rebecca Lawson with AAP
There has been mixed reactions to the Reserve Bank of Australia's widely expected rate cut with most welcoming the news but others critical that it doesn't go far enough.
The central bank today said it would lower the cash rate by 25 basis points to seven percent, the first cut since December 2001, following its monthly board meeting.
The move is good news for mortgage holders with the four major banks announcing shortly after the RBA statement that they will pass on rate cuts to customers as pledged last month.
Article continues...
2-September-08
Written by Rebecca Lawson with AAP
There has been mixed reactions to the Reserve Bank of Australia's widely expected rate cut with most welcoming the news but others critical that it doesn't go far enough.
The central bank today said it would lower the cash rate by 25 basis points to seven percent, the first cut since December 2001, following its monthly board meeting.
The move is good news for mortgage holders with the four major banks announcing shortly after the RBA statement that they will pass on rate cuts to customers as pledged last month.
Article continues...
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