Reserve Bank Slashes Interest Rate to 3.85% — Big Four Banks Pass Full Cut 💰

There is more good news for borrowers with the Reserve Bank board delivering its second rate cut for the year. The cut brings the cash rate down a quarter of a percentage point to 3.85 per cent the first time its fallen below four per cent in two years. The big banks have all reacted quickly and will pass on the cut to customers in full and there's likely more cuts to come. The RBA Governor and the treasurer declaring Australia is winning the fight against inflation.