It was no surprise that the RBA cut interest rates to a record low of 1.25% with the intention of stimulating the economy. But was this the right decision?
interest rates
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With the RBA taking the knife to the official cash rate for the first time since August 2016, it's time for consumers to cash in.
The RBA has slashed interest rates in the first cash rate move in almost three years. The move was widely expected, and no doubt the focus will now turn to mortgage rates; how low will they go?
After having a stellar run in the first quarter of 2019, and with the RBA set to meet early next week, the Australian sharemarket momentum has slowed by around 80% over the past two months.
The RBA is expected to slash the cash rate to 1% in coming months, but should that be a cause for celebration or concern?
Josh Frydenberg will unveil the Federal Budget, his first as treasurer, in Canberra tonight. With all eyes on Prime Minister Scott Morrison as he prepares to announce the date of the next federal election, tonight's Budget is an important step in the Coalition's bid for re-election.
Although the RBA has left the cash rate unchanged since August 2016, there is a growing likelihood that the cash rate will move lower later this year.
The RBA left the cash rate on hold at 1.5% at its March meeting today. but there is a growing possibility that rates could fall later this year.
The interest rate earned on "lost" bank accounts for the 2017-18 period was 2.13%. The average interest rate on a transaction account over the same period was a measly 0.11%.
The RBA has looked past the housing downturn which has gathered some momentum over the past three months, to hold the cash rate firm at their first meeting this year.
