RATES REMAIN STABLE
The Reserve Bank (RBA) has decided not to cut interest rates leaving the official cash rate at 3.25%. "The RBA has moved aggressively with five rate cuts in five meetings, slashing 400 basis points off the official cash rate to a forty year low of 3.25%. The RBA is now waiting to see how its strategy and the Federal Government's combined $52.4 billion stimulus program effects the domestic economy. This move is prudent as it leaves room for further cash rate manoeuvring if and when needed.”
source: domain.com.au
