The Reserve Bank cuts the official interest rate to a new record low of 1 per cent at its July 2019 meeting.

The Reserve Bank has cut its official interest rate by 0.25 percentage points to a new record low of 1 per cent. The Reserve Bank’s decision was largely expected, with the market pricing a roughly 80 per cent chance of a cut ahead of the RBA board meeting. The Reserve Bank governor said international economic risks, especially from the trade war, also contributed to the decision to lower rates further. The big question is whether we’ll see this flow through to variable home loan customers but it is expected to pass this cut along.