At today’s meeting the Reserve Bank of Australia (RBA) reduced the cash rate by 0.25% to 2.00% pa.
This will not be a surprise to many (including the average economist) with the “odds” yesterday at over 94% that it would go down. Now I’m no Tom Waterhouse but that seems like a favourite to win. Again this will be good news for property investors and mortgaged home owners.
Things have been a little slow around our great land, and the RBA is keeping this in mind as it measures up the chance of further cuts this year. No doubt the election fever will overwhelm it in the coming months.