Reported at smallcaps.com.au: The Reserve Bank of Australia has cut interest rates for the first time in four years, reducing the cash rate to 4.1% from 4.35%.

Major banks, including Westpac and National Australia Bank, plan to pass the 0.25% reduction to their customers, leading to monthly savings for homeowners on mortgages of various amounts.

This decision reflects moderating inflation, although the economic outlook remains uncertain with concerns about domestic demand and global conditions impacting future growth.