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RBA Rate cut

Wednesday, December 05, 2012
The RBA has given homeowners more good news – with the RBA announcing today that they will reduce the cash rate by 0.25 points to an overall rate of 3.00%. This equals the lowest level ever for Australian homeowners and has come about due to a multitude of factors which highlight that not only Australian growth but global growth is also slowing. The Organisation for Economic Co-operation and Development (OECD) predicts that Australian growth will slow by 0.7% next year compared with figures this year.
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