Cash rate reduced to a new record-low of 2.25%

The Reserve Bank of Australia has decided to lower the cash rate to 2.25% effective 4 February 2015.

The central bank’s last move on the official cash rate was in August 2013,with an easing from 2.75% to 2.5%. In its meeting today, the Board noted “taking into account the flow of recent information and updated forecasts, a further reduction in the cash rate was appropriate.”

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