While the Reserve Bank of Australia (RBA) left the Cash Rate steady today, it rate remains just 50 basis points above its record low reached during the peak of Global Financial Crisis. That may be low by Australian historical standards but the cash

rate here is much higher than most equivalent economies: 

Since November the RBA has lowered the cash rate by 125 basis points. Of that total, lenders have passed on around 100 basis points or one per cent to variable mortgage rates. 

(Source: Sydney Morning Herald)