Reserve Bank Interest Rates Today the Reserve Bank announced a target “cash rate” of 2.50 percent, the lowest ever recorded in Australia. On a $300,000 home loan, this interest rate reduction  will reduce repayments by nearly $60 a month  For those looking to purchase a new home,  these lower rates are going to encourage buyers however you should use caution as interest rates aren’t always going to be this low. If the volatility of interest rates makes you unsure about what future Reserve bank decisions might mean, now might be a good time to consider a fixed rate loan. Future changes in interest rates could effect your living standards, to…