Five years after Brisbane became one of the world's first cities to reduce CBD speed limits to 40 km/h, the initiative has been adopted in Sydney, London and New York.

Brisbane City Council, under then Lord Mayor Campbell Newman, introduced the measure to all CBD streets except Ann and Turbot streets in 2009, in a bid to improve pedestrian and cyclist safety.

The central bank is poised to slash the cash rate to a new record low of 1.5 per cent in August. Credit:Michelle Smith

The decision to reduce speed limits from 50 km/h stemmed in part from two horror years on CBD streets in 2006 and 2007.

Collisions with cars claimed the life of a cyclist and a pedestrian in separate incidents in 2006 and hospitalised a further 21 pedestrians.