On the back of low inflation data the RBA has moved interest rates down another 0.25% to an official cash rate of 1.75%.
Read the official press release I can only get the feeling that the RBA is a bit bearish about the economies future but doesn't want to pass on the negative sentiment to the broader market at large so it has added in their what recent economic data highlights it could find for the past year.
It is also fantastic news for those on a variable interest rate and those looking to jump into the housing market as this inevitably brings down the cost of servicing that loan. Unfortunately, though those with the tin foil hat waiting for Sydney's house market crash so you can use you $3.50 to buy up all the real estate from all sheeple already in the market (desperately trying to flee it due to this Pompeii like crash), it's likely this change will leave you having to leave the light on for Harold Holt that little bit longer.
You can read the official press release at http://www.rba.gov.au/media-releases/2016/mr-16-10.html
If the interest rate cut wasn't big enough to solve you or your client's credit / debt issues do not hesitate to give me a ring to talk about Bankruptcy and Liquidations and how they might help you.