Since the overnight cash rate hit 17.5 per cent in January 1990, Australians have seen the RBA cut interest rates 51 times. Now, after more than three decades of interest rate cuts, the cash rate sits at just 0.1 per cent. This has led some analysts to call the bottom, predicting that the cash rate will never be cut lower than it is today. With the economy s recovery from the pandemic still fragile and heavily reliant on government support and household savings, RBA governor Philip Lowe has stated interest rates would stay low for as long as needed . In a recent appearance before a parliamentary committee, Mr Lowe stated that rates would stay at this level for up to three years.
Sign Aussie house prices could plummet warwickdailynews.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from warwickdailynews.com.au Daily Mail and Mail on Sunday newspapers.