RBA Cut Cash Rate to 0.25%

The Reserve Bank of Australia (RBA) held an emergency meeting today, in response to the global outbreak of coronavirus. As a result, the Board decided to decrease the current cash rate to 0.25%, in order to ease pressure on the economy.

Governor Philip Lowe indicated that the Board took this decision to support the economy as it responds to the global coronavirus outbreak.

“The primary response to the virus is to manage the health of the population, but other arms of policy, including monetary and fiscal policy, play an important role in reducing the economic and financial disruption resulting from the virus,” The Board announced.

Given current market volatility, it’s becoming more critical to have access to liquid funds. Now could be a good time to review your investment policy and take a look at the updated rates on the Cashwerkz marketplace. If you have current cash holdings on the Cashwerkz platform, head to the marketplace to ensure you’re maximising potential returns.

Cashwerkz can operate effectively in all market types, particularly capable of offering greater value for investors in a low rate environment and one now facing community movement restrictions.

With competitive rates from 51 banks for direct investors, financial advisers, self-managed-super-funds, councils, custodians, community organisations and not-for-profits, invest at fixed rates and ensure your money works harder for you during these times.

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*For councils, not for profits and community organisations, contact [email protected]

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