Reserve Bank Announces No Interest Rate Change

The Reserve Bank of Australia today announced that the official cash rate will remain unchanged at 3.00% or 300 basis points.

While the economy isn’t promising as a whole, it is performing better than previously forecasted three months ago. One key point is that a falling demand for labour is lowering growth in labour costs.

Despite tax-cut incentives for businesses purchasing new capital, business borrowing on the whole is on the decline. A major factor contributing to the drop is the restriction of financial lending standards, which also reflects the recent tightening of credit card approvals.

Overall, the interest rate adjustment comes to little surprise among financial analysts, and even punters forecasting the odds of no rate change at $1.03.

Related posts:

1. Now Is The Best Time To Get A Credit Card Before Credit Controls Tighten
2. Reserve Bank Interest Rates: Understanding Monetary Policy
3. How To Minimise Interest Rate Hike Impact
4. Interest Rates Are Staying – For Now
5. Isn’t it time you Fixed your Interest rate?

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