The Reserve Bank has cut the official cash rate for the first time in almost three years. This is what the record low means for you.

The Reserve Bank has made the historic move of cutting interest rates to an all-time low of 1.25 per cent, ending weeks of frenzied speculation.

Update: Commonwealth Bank becomes the first of the big four to pass on the entire 25 basis point cut.

Update: ANZ Bank has announced it will decrease variable home loan rates by 0.18 per cent, effective 14 June 2019.

NAB, CBA and Westpac all passed on in full the RBA’s 25 basis point cut in May 2016, although ANZ opted for a 19 basis point reduction.