If you didn’t back a winner on Melbourne Cup Day then fret not: the Reserve Bank of Australia (RBA) has delivered mortgage holders a win by cutting the official cash rate by 15 basis points to a new record low of 0.10%.
Rates remain on hold
The Reserve Bank of Australia kept official interest rates on hold at its September meeting this week. The cash rate remains at the historic low of 0.25%. RBA governor Philip Lowe said they had decided to increase the size of its funding facility and extend its availability until late June...