Home owners have plenty to cheer about when the Reserve Bank of Australia annouced an interest rate cut of 75 basis points bringing the cash rate to 5.25%.  In a widely anticipated move, the RBA went beyond expectations of a 50 basis points cut and lowered the burden of mortgage repayments by home owners by going on another bold move to cut interest rate by 75 basis points following a full 100 basis points cut last month.

It’s expected to cut rate again in December to stimulate the economy in the light of a global financial crisis. For further news, click on this link: http://www.theaustralian.news.com.au/story/0,25197,24602026-12377,00.html