Interest Rates in Australia Lowered to 0.75%
Australia is the latest country to lower their interest rate to an historic low. The Reserve Bank of Australia has cut the rate for the third time this year, resulting in a new figure of 0.75%.
This rate cut was designed to kick-start the Australian economy, which has been sluggish for some time now. Earlier this year, the Australian interest rate was reduced by 0.25% in both June and July.
The Facts Behind the Decision