Interest rates cut to 3.25pc

Australians are working hard to survive and to sustain with the economy....



THE Reserve Bank has cut interest rates by 100 basis points to 3.25 per cent.
Interest rates are now at their lowest point in more than 40 years.
The one percentage point cut was widely tipped by economists, saving home buyers an average $186 a month in mortgage repayments.
The cut in rates comes on the same day the Government announced a massive $42 billion stimulus package in a bid to kickstart the economy.
The central bank last cut interest rates in December by one percentage point.
More to come