RDG: Good news for mortgage holders: RBA drops 0.25%. I imagine every mortgage holder will be watching the banks to see what they pass on.
Key points from today’s release include:
- US has room to grow
- Borrowing conditions remain tough, credit growth is low.
- Aussie dollar is high (RDG: really??)
Statement by Glenn Stevens, Governor: Monetary Policy Decision
At its meeting today, the Board decided to lower the cash rate by 25 basis points to 4.5 per cent, effective 2 November 2011.