Yesterday afternoon, the Reserve Bank of Australia announced it is lowering the cash rate for the first time since 2020.The cash rate was 4.35%, but it is now 4.1%.It’s big news for Aussies, particularly those with a mortgage or who are wanting to apply for a home loan for the first time, and it’s also big news for the Labor Government - with this likely now impacting when we will go to an election.If you’re confused about any of that, you’ve come to the right place. We’re here to discuss what a cash rate actually is, and how it will affect you whether you have a mortgage or not.

Hosts: Billi FitzSimons and Sam Koslowski
Producers: Elliot Lawry

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