RBA cuts rates to record low
Written on the 6 August 2013The Reserve Bank has announced a cut in interest rates for the second time this year, resulting in the cash rate now standing at its lowest since 1959 of 2.5 per cent.
RBA governor Glenn Stevens expected the Australian economy to continue to grow below trend in the near term as mining investment falls, and for inflation to remain consistent with the medium-term target as labour costs moderated.Mr Stevens added that the Australian dollar remained “at a high level” despite losing about 15 per cent of its value since early April, and welcomed a further depreciation of the exchange rate to help foster a rebalancing of growth in the economy.
For the official announcement follow the link below.
|The Australian government has launched the Better Tax campaign in order to help inform the public of tax reforms coming into effect. Designed to “better Australia”, here is a look at what this plan is and its meaning for you. What it is:The Better Tax initiative is designed to help prevent bi...|
|Personal loans have become a fast-growing financing option for consumers, with payday apps and websites gaining popularity. For aid between paychecks, payday loans can be very helpful for the pay cycle lull. Taking out a loan is not something to enter into lightly though, there are many variables...|