RBA cuts by 100 bps to 4.25%

RBA cuts by 100 bps to 4.25% December 2nd, 2008 The Reserve Bank of Australia today cut its official cash rate by 100 basis points to 4.25% as global economic conditions continue to deteriorate and commodity prices continue to fall. The latest reduction was the fourth in four months, following a 75 basis point cut in November, a 100 basis point cut in October and a 25 basis point cut in September. Expectations had centred around a 75 basis point reduction. The Australian OCR is now at its lowest level since December 2001.