AAP General News (Australia)
02-07-2001
AAP National News Wire Round Up for Evening, Feb 7
EVENING ROUND-UP: HIGHLIGHTS OF THE AAP RTV FILE AT 1630
RATES RBA (SYDNEY)
The Reserve Bank of Australia has cut interest rates citing low inflation and slowing
economic growth as its reasons.
The move drew a quick reaction from banks which cut home loan interest rates by half-a-percentage
point.
In a widely anticipated move, the RBA has cut the cash rate by 50 basis points to 5.75 per cent.
Treasurer PETER COSTELLO says the banks should move quickly to pass on the rate cut
to mortgage holders.
The average …
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