How the change to interest rates affects you

Yesterday afternoon, the Reserve Bank of Australia announced it is lowering the cash rate for the first time since 2020.The cash rate was 4.35%, but it is now 4.1%.It’s big news for Aussies, particularly those with a mortgage or who are wanting to apply for a home loan for the first time, and it’s also big news for the Labor Government - with this likely now impacting when we will go to an election.If you’re confused about any of that, you’ve come to the right place. We’re here to discuss what a cash rate actually is, and how it will affect you whether you have a mortgage or not.

Hosts: Billi FitzSimons and Sam Koslowski
Producers: Elliot Lawry

Want to listen to more episodes of The Daily Aus' podcast? Follow us:
Spotify ► https://spoti.fi/46UTaD7
Apple ► https://apple.co/3MiPu4I

The Daily Aus is a media company focused on delivering accessible and digestible news to young people. We are completely independent. Support us by subscribing to our channel here: https://bit.ly/3l6IFpt

Or check out our other platforms here:
Website ► https://thedailyaus.com.au
Instagram ► https://instagram.com/thedailyaus
TikTok ► https://tiktok.com/@thedailyaus

Note: Captions are auto-generated


#news #podcast #thedailyaus