Australia’s Central Bank Makes Emergency Cash Rate Cut to 0.25%

An employee walks past the Reserve Bank of Australia building in the central business district of Sydney on July 4, 2017. SAEED KHAN/AFP via Getty Images

The Reserve Bank has cut the interest rate to a new record low 0.25 per cent as part of a suite of economic support to cushion the blow of the pandemic caused by the CCP virus.

Thursday’s widely-anticipated emergency rate cut means the central bank will also pull the trigger on its first-ever quantitative easing program in a bid to boost cash supply and encourage lending and investment.