THE Reserve Bank of Australia has cut the cash rate from 4.35 per cent to 4.1 per cent—the first decrease in over three years—following months of pressure amid rising living costs and a housing shortage.
The decision, announced by RBA Governor Michele Bullock on 18 February, comes after rates remained at a 13-year high for 14 months.
With major banks and lenders passing on the cut, the move is...
