Interest rates coming down to new record low
The Reserve Bank has slashed its cash rate to a new record low in a bid to stimulate the economy.
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The cash rate will come down to 0.75 per cent, after a cut of 0.25 percentage points.
The move will reduce required home loan interest repayment for borrowers on variable interest rates, but also has potential to cut returns on savings.
Tuesday's cut was widely expected.
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