RBA cuts interest rates by 1 percent

By Jessica Stanic · 3 February 2009 · Locked

Full details: RBA cuts interest rates by 1 percent

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Summary

As the global financial crisis grips the nation, the Reserve Bank of Australia (RBA) has taken swift steps to stabilise the economy, reducing interest rates by a further 100 basis points, taking the cash rate down to 3.25 percent. RBA Governor Glenn Stevens believes that the reduction in the cash rate was appropriate to give […]