The Reserve Bank of Australia has slashed the official cash rate by 100 basis points to a seven-year low of 4.25 per cent following today's monthly board meeting. The fourth rate cut in as many months means that homeowners will save around $193 a month in repayments on an average mortgage of $300,000, should the retail banks pass on the reduction in full. Economists had generally tipped a 75 basis-point reduction by the central bank. The Reserve Bank has lowered the cash rate by a savage 300 basis points since September as it tries to prevent the economy from being sucked into a global recession.

RBA governor Glenn Stevens said that while the Australian economy had been more resilient to the global economic downturn than other advanced economies, recent data indicated a significant moderation in demand and activity had occurred. "With confidence affected by the financial turbulence and a decline in the terms of trade now under way, more cautious behaviour by both households and businesses is likely to see private demand remain subdued in the near term," Mr Stevens said in a statement. He expects inflation will soon start to fall. "Weighing up the international and domestic developments of recent months, the board judged that a further significant reduction in the cash rate was warranted now, to take monetary policy to an expansionary setting," he said.-- AAP

Steinborner Family Vineyards

The Steinborner Family have lived and farmed around the Barossa Valley for 5 generations. Their 80 year old shiraz vines and other varietals are planted on the typical sand over clay soil profile of Vine Vale, a premium sub-region of the Barossa Valley. This area produces some of the finest quality shiraz, semillon, viognier, marsanne and durif in the Barossa Valley and is the base upon which their &lsquosingle vineyard wines are crafted. The Family are proud of their vines, and although a large portion of their fruit is sold to local and interstate wineries, they have selected the premium fruit for their own label.PO Box 832Nuriootpa SA 5355Tel: 0414 474 708 Fax: 08 85224898E: info@sfvineyards.com.auWeb: www.sfvineyards.com.au

Stationery office products and janitorial cleaning products supplier

This well established business dealing in: stationery, office supplies, some canteen products, janitorial cleaning and cleaning products has been servicing clients for 15 years. It has the ability to provide in excess of 30,000 product lines. The owner started this business and is looking to retire. Would suit an energetic person/couple or could be an &quotadd on&quot to an existing business.