The Official Cash Rate has hit a record low 2.75% following the Reserve Bank’s decision to cut rates by a further 25 basis point in May 2013.
This decision is welcomed by Senior Economists & Business Leaders who have encouraged the RBA to assist the sectors within the Australian Economy which continue to struggle.
Borrowers will be able to celebrate further once their Banks confirm HOW MUCH of the rate cut they will pass on to customers and HOW FAST this will occur.
