RESERVE BANK CUTS INTEREST RATES TO A RECORD LOW!

The Reserve Bank has cut interest rates to a record low of 0.1 per cent as the bank's governor confirmed Australia was not out of recession.

The cut to 0.1 per cent is down from the previous record low of 0.25 per cent, which was announced earlier this year, and is not expected to increase for at least three years.

The RBA's plan for interest rates looks to the future — and home owners can breathe a sigh of relief!

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