Australia’s central bank still has “work to do” to bring inflation back to its 2-3% target and doesn’t yet share the market’s confidence about the trajectory of interest-rate cuts, Deputy Governor Andrew Hauser told Bloomberg in an interview Thursday.

SYDNEY–The Reserve Bank of Australia cut interest rates for the first time since 2020 on Tuesday, joining its international counterparts in the global easing cycle and opening the door for the immediate calling of a federal election,

The big four banks were quick to act following the RBA’s first rate cut in more than four years, but what about the borrowers not with the big four?

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Banks are moving on mortgage repayment relief following the Reserve Bank's rate cut call. Holders of other types of loans may also benefit, but others stand to lose.

The Reserve Bank of Australia (RBA) announced a rate cut of 25 basis points, bringing the cash rate down to 4.10% on Tuesday. This move marks the first rate reduction since November 2020, signaling the bank’s concern over domestic economic uncertainties.

The Reserve Bank Board of Australia (RBA) announced they had cut interest rates by 25 basis points to 4.10%. The easing is the first since November 2020, when the central bank cut rates while grappling with the pandemic’s economic slowdown.