The Reserve Bank of Australia is expected to slash interest rates to a record low today in a bid to stimulate the coronavirus ravaged economy.
Governor Philip Lowe is poised to reduce rates to 0.1 per cent after two earlier cuts this year.
New data shows home lending and house prices have surged, prompted by record low borrowing costs.
More drastic economic measures aren't being ruled out and the Reserve bank could also unveil an unorthodox measure known as quantitative easing where it would buy longer-term government securities.
