Looks like savers are losers again. Savers and retirees are being forced to take higher risks to get decent returns on their money …
The Reserve Bank of Australia, this week lowered the cash rate by 25 basis points from 1.50 to 1.25 per cent.
Why? To boost the economy, support employment growth and provide greater confidence that inflation levels will not go too low.
How did they come to that decision?
The Board of the RBA considered the outlook for the global economy, bond yields, the Australian economy, the Australian labour market, housing market & inflation.
Philip Lowe, Governor of The Reserve Bank, explains everything here in his economic update
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