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RBA cuts OCR to 0.25% . . .

March 19, 2020 in Latest News, Rate Cuts by admin  |  Comments Off on RBA cuts OCR to 0.25% . . .

The Reserve Bank Board met in an emergency meeting today and voted to cut the Official Cash Rate to a new record low 0.25%

The Prime Minister has strongly urged banks to pass on this rate cut in full to support Australian families to cope with the negative financial impact of the COVID-19 pandemic.

The vast majority of banks passed on the full 0.25% rate cut announced earlier this month and borrowers will be pressuring banks to repeat this action.

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Posted in Latest News, Rate Cuts.