At its meeting today, the RBA decided to lower the cash rate by 25 basis points to 2.5 per cent

At its meeting today, the RBA decided to lower the cash rate by 25 basis points to 2.5 per cent. The central bank cited growth at a little below trend whilst mining investment is coming off the boil. In addition, the local currency has fallen significantly but remains at a high level. Furthermore, despite all the interest rate cuts, borrowing remains subdued to this point whilst unemployment has edged upwards.