Tuesday, 1 May 2012

THE Reserve Bank of Australia (RBA) has provided huge relief for struggling homeowners and retailers, slashing interest rates by 50 basis points.



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THE Reserve Bank of Australia (RBA) has provided huge relief for struggling homeowners and retailers, slashing interest rates by 50 basis points.
The cut is the first since December 2011 and takes the official cash rate to 3.75 per cent, from 4.25 per cent. This rate is the same as DECEMBER 2009
The rate cut, widely predicted by economists, is likely to ease financial pressure on thousands of households across Australia, with average mortgage holders likely to benefit by about $1000 annually if the banks pass it on.


another great video to watch click link below
here Mark talks about the borrowing and cash rate ????