RBA cuts cash rate to 3.60%

RBA cuts cash rate to 3.60%

The Reserve Bank of Australia (RBA) lowered the cash rate by 25 basis points to 3.60% following its August monetary policy meeting. Read the full statement here.

The move was widely anticipated after trimmed mean inflation, the RBA’s preferred measure, eased to 2.7% annually in the June quarter, according to the Australian Bureau of Statistics. With inflation within the target range and signs of a softening labour market, the board opted to lower rates cautiously.

With rates moving down, now is a great time to review your loan to make sure it's still competitive. Contact me to discuss your options.