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RBA Cuts interest Rates

The RBA has cut interest rates by 25 basis to a historical low of 2.25. All majors excluding ANZ have passed on the rate cut.

Westpac have passed on 28 basis points bringing their rates closer to other majors.

While this is good news for borrowers the RBA is worried about the Australian economy and wants new investment and spending and thats why it has cut rates.

 

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