Rates cut again - that's the bottom say the RBA
Central bank employs emergency measures to combat economic impact of COVID-19 pandemic.
Effective tomorrow, 20 March, the official cash rate will be slashed to a new record low of 0.25%.
The RBA has previously communicated that 0.25% is its floor; rather than moving to 0%, the central bank will likely look to other support measures moving forward.
I imagine that the lenders will pass this on very quickly.