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RBA cuts cash rate to 1.25%

As expected, the Reserve Bank of Australia cut the cash rate by 0.25% at yesterday’s meeting. This is the first official cash rate move in almost 3 years, and a fresh record low rate. CBA and NAB passed on the rate cut in full, whilst ANZ and Westpac passed on a partial cut.

The rate cut follows a month of weak economic data, most notably an unexpected rise in the unemployment rate for April to 5.2%. The RBA placed a strong emphasis on the fact that any future cuts will be dependent on the performance of the labour market.
The Australian dollar remains relatively unchanged since the RBA announcement, currently holding just below USD 70c. If you’ve been waiting for the right time to transfer, invest in real estate now could be it. Our Partner Services team will be available to help you over the phone 24/7.
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Author : Charles Vincent Kaluwasha

Founder and CEO of C J Investiment. Charles Kaluwasha is a real estate entrepreneur and developer, specializing in building 2-5 unit properties in Melbourne City and Gold Coast. He currently owns 3 investment properties. He has rehabbed, Flipped and/or lease-optioned over 3 single-family residences using funds from private investors. He has secured 2 investment apartments in Melbourne and Gold Coast to be completed early 2020. A developer of C J Academy/mentorship program helping investors and homeowners with basic and advanced financial education and real estate investing strategies to create passive wealth.

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