Rudd Government Cuts Interest Rates

THE Reserve Bank cut interest rates for the first time in nearly seven years in a move that should save households about $50 a month.

The news was followed swiftly by announcements that the four major commercial banks – Commonwealth Bank of Australia, National Australia Bank, ANZ and Westpac - and HSBC would cut lending rates over the next two days.

Soundman et al apologise to Bedlam's Labor voters.