The Reserve Bank has just the Official Cash Rate by 0.25 pc to a new record low of 2 per cent.
Cheap money! If you can get it. What we now have is a segregated credit regime in which many – ie younger, poorer people – can’t borrow because the loan-to-value ratios prevent them from doing so, but those who can access it – ie those with equity – have never been able to borrow at better rates. And now it gets better! If the banks even pass the cuts on.