Interest Rates are now even lower – Official Rate is 0.10%, down from 0.25%!!!
Following an out-of-cycle rate reduction in March, the RBA has followed market consensus and reduced the official cash rate to 0.10 of a percentage point, down from 0.25 of a percentage point.
RBA governor Philip Lowe said the central bank decided to cut the rate to support job creation and the recovery of the economy from the pandemic.
