'It's finally happened': Mark Bouris dancing over RBA rate cut

Homeowners across Australia are this morning celebrating the first rate cut in four years, which will see interest on home loans fall by $4 billion a year.

But while the announcement by Reserve Bank Governor Michele Bullock is welcome, Aussies have been warned it's unlikely to be a recurring thing.

"It's a welcome reduction, but I don't think it's going to make much difference at all," Yellow Brick Road chairman, Mark Bouris told Today.

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"I don't think everyone's going to go out and start spending like a drunken sailor, because all of a sudden they've got an extra $100 in their bank account."

Bouris said while another immediate rate cut is unlikely, the RBA Governor is concerned about inflation and will only make decisions based off the data, the next of which comes out in April.

"If you look at the US, the Federal Reserve over there has already earmarked the fact they will not be reducing interest rates, even though they've had a couple of rate reductions because inflation has crept back into the system," he said.

"Now, it's not necessarily because of tariffs or the threats of tariffs, it's just how people are spending."

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And while Bouris warns Australia might only get the one rate reduction this year, he said today's RBA are "pretty smart" these days and won't let the country fall back into old patterns.

"It's finally happened - my god, there's been so much speculation about this," he said.

"We have changed the rhetoric, the language, the narratives change, which is a great thing, maybe we feel a bit more positive, but a series of rate reductions... let's wait and see about that."

Hear Mark's full chat with Today in the video above