Australian Conservatives Release
The Reserve Bank has made the historic move of cutting interest rates to an all-time low of 1.25 per cent, ending weeks of frenzied speculation.
While borrowers might welcome the move, Conservative Party leader Cory Bernardi says that’s not a good thing if confidence in the economy remains low.
RBA governor Phillip Lowe made the announcement this afternoon, revealing the cash rate would be slashed by 25 basis points, from a previous low of 1.5 per cent.
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