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BREAKING: RBA Announcement

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February, 2020: 

The Reserve Bank of Australia (RBA) board has announced its first cash rate decision for 2020.

At its meeting today, the RBA has kept the official cash rate on hold, at the record low rate of 0.75 per cent (where it has sat since October, 2019).

This announcement came as no surprise and was predicted by many economists.

The impact of the RBA's monthly cash rate decision carries different meaning for borrowers and deposit holders.  It would have been a nervous wait for deposit holders today, as those trying to save are being negatively impacted by the low rate environment.

For the official RBA article, please visit the Reserve Bank’s website.