What Does An Interest Rate Cut Mean To You?
After much anticipation and speculation about the official interest rate, the Reserve Bank of Australia yesterday has announced for the first time in 18 months an interest rate cut to a record low 2.25%, the lowest the rates have fallen since 1959. So what does this actually mean for you? Does this spell good or bad news? And what should you consider.
There are some winners and inevitably there are some that will lose out.