Katrina Parrington

Mortgage & Finance Broker, Elders Home Loans – Northern Territory – P. 8932 8900

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  • Elders Home Loans

  • Katrina Parrington

    I am a long term Centralian resident with more than 18 years experience in the financial services industry. Initially, in Real Estate in Adelaide before pursuing a career with Elders Insurance Alice Springs and lending roles with major banking institutions where I gained extensive experience in Home Loans and Commercial Lending here in the Alice and in Darwin.

    I have a unique set of skills that ensures I understand your lending needs and can provide you with professional advice and personal service.

    Tel: 08 8953 8800
    email: katrina.parrington@eldershomeloans.com.au

Reserve Bank Cuts Cash Rate to Record Low!

Posted by Katrina Parrington on May 5, 2015

The Reserve Bank of Australia has announced the result of its monthly meeting following a period of inimages[7]tense market speculation.

In what was probably a close decision, board members decided to reduce the official cash rate from 2.25 per cent to a new record-low setting of 2 per cent.

According to a finder.com.au survey of 34 economists and commentators, 18 had expected rates to remain on hold, while 16 had expected rates to fall.

 Many thought the Reserve Bank would refrain from cutting rates now so it could have more time to assess the impact of the February rate cut.

However, it appears the Reserve Bank decided the sluggish economy needed an immediate stimulus.

Board members probably also wanted to apply downward pressure to the Australian dollar.

This may not be the last rate reduction of the year: six of the 34 survey respondents forecast that the Reserve Bank would make one more cut in 2015.

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