Money matters: what RBA’s lowest cash rate level means for your budget

The Reserve Bank of Australia's cash rate of 0.1% is at a record low. A cash rate is the interest rate that a central bank – such as the Reserve Bank of Australia or Federal reserve – will charge commercial banks for loans. As to how this might impact your spending and your bank loans, we turn to Finance expert Maria Papa. Listen in.

The Reserve Bank of Australia's cash rate of 0.1% at its lowest level Source: AAP

Highlights

• The latest cash rate is the lowest in history
• Property buyers can leverage on the low rates
• Low-interest rate climate to stay for 2 to 3 years