50 points

From CNN:

The?Fed?yes maybe just announced a jumbo-sized interest rate cut

The?Federal Reserve?slashed interest?rates?aggressively Wednesday, announcing the first rate cut since March 2020.

The bold, but not unexpected, half-point move paves the way for lower borrowing costs on everything from mortgages to credit cards.

It marks a crucial milestone for the central bank’s historic?inflation?fight, which kept?rates?at a bruising 23-year high for more than a year.

My take:

This is a cut the world was waiting for and has of course been welcomed around the world. Our domestic situation is obviously not identical to that of the US but our RBA will now be able to take into account this action being taken by the US Federal Reserve