RBA drops cash rates to record low

The Reserve Bank of Australia has driven its official cash rate below one per cent for the first time. It's the R-B-A's third cut since June and comes as the central bank battles to curb rising unemployment and stimulate a stalling economy.

People walk past the Reserve Bank of Australia (RBA) in Sydney, Tuesday, April 6, 2016. The RBA is expected to leave interest rates on hold today. (AAP Image. Source: AAP