What was the lowest cash rate seen in over 50 years?

The lowest cash rate seen in over 50 years was indeed 1.5%. This rate reflects the monetary policy decisions made by the central bank, particularly in response to economic conditions such as low inflation, sluggish economic growth, and the need to stimulate borrowing and investment. A rate of 1.5% indicates a highly accommodative monetary policy environment aimed at encouraging spending and investment during periods of economic uncertainty.

In the context of the cash rate, lower rates make borrowing cheaper, which can boost consumption and investment. A cash rate of 1.5% aligns with those objectives, particularly seen during specific periods such as the response to the global financial crisis and subsequent economic challenges. The other mentioned rates, while relevant in other contexts or periods, do not represent the lowest historical cash rate in the timeframe specified.