Interest rates cut to 1.5%

August 02, 2016
Steve Hodgkinson

The Federal Reserve has today annnounced a further cut to official insterest rates bring the rate to 1.5%. Economists expected the cut on the basis that the Reserve Board wants inflation for Australia to be between 2-3% and it is currently sitting below 1%.

On the back of this announcement CBA quickly announced a cut of 13 points to its lending rate and was followed by NAB who announced a 10 basis point cut.

Posted in: Interest rates

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