As widely expected, despite cutting cash rates to 1.25 per cent in June, and then again to 1.00 per cent in July, today the Reserve Bank of Australia (RBA) today announced its third rate cut for the year, slashing an already historically low interest rate to 0.75 per cent.
The majority of the nation’s top economists expected today's announcement, after the August labour force data revealed an increase in the unemployment rate, as well as an increase in the underemployment rate, which is now in line with its recent peak. Watch Macquarie Bank's interest rate report here...
Rick Maggi
