Cut by 0.25 per cent to 3.0 per cent

The Reserve Bank of Australia today cut official interest rates to 3 per cent - a level not seen since the global financial crisis, based on fears that Australia's economy is deteriorating.The Australian Bureau of Statistics' economic data reflects negativity in employment, a marked slowing in the mining industry and unconfident retail sales. Since the RBA embarked on the current cutting cycle in November 2011 it has now cut its key cash rate by 175 basis points altogether. The question is...? Will they or won't they...pass it on! Thoughts!