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Hallelujah! The RBA finally reduces the interest rate to 3.75% May 1 2012

01 May Posted by Richard Korda

Well it's only taken until halfway through Autumn, but the Reserve Bank Board today realised what everyone else in the country has known since the start of summer - Australia needs a rate drop.

And they've finally delivered with a drop by 0.5% to 3.75%. Now let's hope lenders pass on the decrease.

If you'd like to find out why the RBA made this decision click here to their media statement.

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