RBA Update: Interest Rates Remain Unchanged

Posted on September 10th, 2012 · Posted in News

Reserve Bank of AustraliaIn their official meeting on 04/09 The Reserve Bank of Australia has decided keep interest rates on hold, keeping the cash rate unchanged at 3.50%.  This decision is due to tentative signs that looser monetary policy is supporting the interest rate sensitive sectors of the economy however, more time is needed to determine the full impacts of the rate cuts in May and June respectively.  The RBA have made their decision based on the fact that another month or two would also allow economists to determine if recent falls in bulk commodity prices are the result of reductions in demand or are simply seasonal price adjustments.