{"id":19273,"date":"2019-06-04T18:07:18","date_gmt":"2019-06-04T06:07:18","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=19273"},"modified":"2019-06-04T18:07:18","modified_gmt":"2019-06-04T06:07:18","slug":"rba-cuts-rates-to-new-record-low-to-kickstart-economy","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/rba-cuts-rates-to-new-record-low-to-kickstart-economy\/","title":{"rendered":"RBA cuts rates to new record low to kickstart economy"},"content":{"rendered":"<p>&nbsp;<\/p>\n<p><strong>PHOTO:\u00a0RBA\u00a0<\/strong><\/p>\n<p>The Reserve Bank of Australia has cut official interest rates to a new record low of 1.25 per cent, stimulating a slowing economy as it looks to turn around sluggish employment, wages and inflation.<\/p>\n<p><a href=\"https:\/\/www.smh.com.au\/link\/follow-20170101-p51uec\" data-track-relatedarticle=\"inarticlelink\">ANZ was the first of the big four banks to react<\/a>, announcing it would trim mortgage rates by 0.18 percentage points within 10 minutes of the RBA&#8217;s decision.<\/p>\n<p data-gtm-vis-polling-id-6236702_632=\"1453\" data-gtm-vis-recent-on-screen-6236702_632=\"1559628252667\" data-gtm-vis-first-on-screen-6236702_632=\"1559628252667\" data-gtm-vis-total-visible-time-6236702_632=\"2600\">It blamed increased costs in its business for its decision not to pass on the RBA&#8217;s full 0.25 percentage point cut, as\u00a0<a href=\"https:\/\/www.smh.com.au\/link\/follow-20170101-p51txx\" data-track-relatedarticle=\"inarticlelink\">Treasurer Josh Frydenberg had urged<\/a>. The Commonwealth Bank, National Australia Bank and Westpac are yet to announce their intentions.<\/p>\n<p>The official rate cut, just weeks after the May 18 federal election, marks the first time the RBA has used its central monetary policy lever in\u00a0<a href=\"https:\/\/www.smh.com.au\/link\/follow-20170101-gqir5a\" data-track-relatedarticle=\"inarticlelink\">almost three years<\/a>\u00a0&#8211; the longest period of interest rate stability in Australian history.<\/p>\n<p>READ MORE VIA <a href=\"https:\/\/www.smh.com.au\/business\/the-economy\/rba-cuts-rates-to-new-record-low-to-kickstart-economy-20190604-p51uax.html\">SMH<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&nbsp; PHOTO:\u00a0RBA\u00a0 The Reserve Bank of Australia has cut official<span class=\"more-link\"><a href=\"https:\/\/propertynoise.co.nz\/au\/rba-cuts-rates-to-new-record-low-to-kickstart-economy\/\">Read More &rarr;<\/a><\/span><\/p>\n","protected":false},"author":1,"featured_media":7223,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[461747081],"tags":[478099572,478098512,478098521,478101317,478098542,478098519,478098535,478105551,478098713,478098513,478101743,478099125,478098579,478098510,478098514,478098511,478098533,478098509,478105552,478105550,478104568,478100668],"class_list":["entry","author-data123nz","post-19273","post","type-post","status-publish","format-standard","has-post-thumbnail","category-australian-property-real-estate-news","tag-anz","tag-australia","tag-australians","tag-federal-election","tag-home-loans","tag-home-ownership","tag-house-prices","tag-josh-frydenberg","tag-national-australia-bank","tag-property","tag-property-correction","tag-property-crash","tag-property-market","tag-property-news","tag-propertynoise","tag-real-estate","tag-real-estate-agent","tag-real-estate-news","tag-slowing-economy","tag-the-commonwealth-bank","tag-the-reserve-bank-of-australia","tag-westpac"],"yoast_head":"<!-- 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