There's finally some relief for Australian homeowners, as the RBA lowers interest rates for the first time since 2020.

It held the cash rate at 4.3 percent for more than a year as post-pandemic inflation slowly cooled - but it slashed the OCR by 25 basis points to 4.1 percent.

HSBC chief economist Paul Bloxham says inflation is coming down, but it's still nowhere near low enough. 

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