Australian PM says rate cut to provide modest relief for mortgage holders (People’s Daily)
Australian Prime Minister Kevin Rudd said on Tuesday the first official interest rate cut in nearly seven years will provide modest relief for mortgage holders. The Reserve Bank cut its key rate by a quarter of a percentage point to 7.0 percent following Tuesday’s monthly board meeting. The move had been widely anticipated and the major retail banks have already indicated they will pass on the …
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September 03 2008 08:09 pm | Home Loan Mortgage Blog