CoreLogic Response: RBA special announcement

The Reserve Bank has announced a 25 basis point reduction in the cash rate, to a new historic low of 0.25% and made it clear the cash rate will remain at this level until labour markets are moving towards full employment and inflation is tracking to be within the target range of 2-3%.

Under normal circumstances, such an extraordinary move from the Reserve Bank might be greeted with renewed optimism towards housing market activity. 

Research from the Reserve Bank points to an inverse…