Please Explain podcast: Can Reserve Bank's historic rate cuts reverse low employment?

The Reserve Bank of Australia has unveiled a wave of measures designed to kickstart the economy out of recession, including slashing official interest rates to a new record low.

After the Melbourne Cup Day meeting, RBA governor Philip Lowe said the cash rate wouldbe cut to 0.1 per cent − and he urged banks to pass on the cut.

If the full cut was passed on, a person with a $300,000 mortgage would save about $23 each month.

In this episode, Sunday Age editor David King and senior economics correspondent Shane Wright look at how the RBA cuts will affect individuals and the broader economy.

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