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Interest rates cut to record low

Reserve bank Governor Philip Lowe delivers the news of historic low interest rates in Australia

Reserve bank Governor Philip Lowe delivers the news of historic low interest rates in Australia Source: AAP

The Reserve Bank of Australia has unveiled an unprecedented package of measures to help combat the COVID-19 induced recession. The record-low interest rates announced on Tuesday may be good news for mortgage holders and those looking to enter the property market. But it's a blow for older Australians who rely on the interest from their savings.


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By Rena Sarumpaet, Claudia Farhart

Presented by Svetlana Printcev

Source: SBS




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The Reserve Bank of Australia has unveiled an unprecedented package of measures to help combat the COVID-19 induced recession. The record-low interest rates announced on Tuesday may be good news for mortgage holders and those looking to enter the property market. But it's a blow for older Australians who rely on the interest from their savings.


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