Australia's interest rates on hold at record-low 0.25 per cent in July

Australia's interest rates will remain on hold at the record-low level of 0.25 per cent as the nation works to claw its way back from the economic damage caused by COVID-19.

The Reserve Bank of Australia (RBA) today said it would not slash rates further as more sectors of the country re-open for trade.

The official cash rate dropped to 0.25 per cent in March after the RBA decided to make two emergency drops in rates from 0.75 per cent.

Read more: https://www.9news.com.au/national/australia-july-interest-rate-decision-reserve-bank-coronavirus-response/3587b2ff-7b82-425c-bc86-705a913d2d83