The Reserve Bank has slashed interest rates to 0.25 per cent after calling an emergency meeting to try to save the economy.

The RBA met before their scheduled meeting next month after it outlined it would deploy quantitative easing on the financial system.

The Federal Government is also working on new stimulus measures to minimise the impact of coronavirus on the economy.

The RBA has previously said it will not cut rates any lower than 0.25 per cent.

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