By how much did the RBA reduce rates between September 2008 and April 2009?

During the period between September 2008 and April 2009, the Reserve Bank of Australia (RBA) undertook a series of rate cuts in response to the global financial crisis. The RBA aimed to support the economy by making borrowing cheaper, thereby encouraging spending and investment.

At the beginning of September 2008, the cash rate was set at 7.25%. By April 2009, the rate had been lowered to 3.00%. The total reduction over this specific timeframe amounted to 4.25%, reflecting the RBA's aggressive monetary policy efforts to stimulate economic activity during a time of significant financial uncertainty and downturn.

Understanding the context of this rate reduction is crucial, as it underscores the importance of monetary policy as a tool for central banks to influence economic conditions. The RBA's decision was influenced by numerous factors, including economic growth forecasts, inflation targets, and the overall state of the financial markets.