The Reserve Bank of Australia's move to reduce the rate from 4.35 per cent to 4.1 per cent was widely expected by the market and is the first cut since 2020. For an average owner-occupier with a $600,000 loan, that cut will translate to a $92 reduction in their minimum monthly repayments.

Australia’s central bank has reduced its benchmark interest rate for the first time since October 2020 as the nation’s inflation cools.

All four of Australia's major banks make their announcement just minutes after the RBA made its decision public.

The Reserve Bank of Australia on Tuesday cut benchmark interest rates for the first time in over four years, joining ranks with other major global central banks, as softening inflation allows room for easing policy.

The Reserve Bank’s decision to cut interest rates will be a shot in the arm for Australian households as the major banks announced they will pass on the full cut.

Australian "Big Four" lenders cut their interest rates by 25 basis points on Tuesday, in tandem with the central bank cutting its rates for the first time since November 2020. The Reserve Bank of Australia (RBA) cut its cash rate by 25 basis points to 4.

The Reserve Bank of Australia (RBA) announced a rate cut of 25 basis points, bringing the cash rate down to 4.10% on Tuesday. This move marks the first rate reduction since November 2020, signaling the bank’s concern over domestic economic uncertainties.

The Reserve Bank Board of Australia (RBA) announced they had cut interest rates by 25 basis points to 4.10%. The easing is the first since November 2020, when the central bank cut rates while grappling with the pandemic’s economic slowdown.