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The Reserve Bank has cut the cash rate to 4.1% with a quarter-point reduction, offering a reprieve to indebted households buffeted by years of high living costs and heavy mortgage repayments. Subscribe to Guardian Australia on YouTube and hit the bell to see new videos ► http://bit.ly/gdnaustraliasubs 'I understand many households will be relieved by this. But the important point I made before is that it’s really important we beat inflation. Because that hurts absolutely everyone,' the Reserve Bank governor, Michele Bullock, says RBA slashes interest rates to 4.1% in its first cut since the early days of the pandemic ► https://www.theguardian.com/australia... Follow the Australia news live blog for the latest updates ► https://www.theguardian.com/australia... Support the Guardian ► https://support.theguardian.com/contr... Website ► https://theguardian.com/au Facebook ► / theguardianaustralia Instagram ► / guardianaustralia Twitter ► / guardianaus TikTok ► / guardianaustralia LinkedIn ► / guardianaustralia Subscribe to the Guardian's other YouTube channels: The Guardian ► https://bit.ly/guardiannewssubs Guardian News ► https://bit.ly/guardiannewssubs Guardian Football ► https://bit.ly/gdnfootballsubs Guardian Sport ► https://bit.ly/gdnsportsubs Guardian Live ► https://bit.ly/guardianlivesubs #australia #rba #money #finance #business #interestrates #guardianaustralia #news #breakingnews #theguardian