After the Melbourne Cup Day meeting,RBA governor Philip Lowe said the cash rate wouldbe cut to 0.1 per cent − and he urged banks to pass on the cut.
If the full cut was passed on,a person with a $300,000 mortgage would save about $23 each month.
In this episode,Sunday Age editor David King and senior economics correspondent look at how the RBA cuts will affect individuals and the broader economy.
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