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Interest Rates Remain Still
07/07/2010

Reserve Bank has held in reserve interest rates unchanged at four and haf per cent ”pending further information’’ on the subject of the global economy. From the statement that has been released by the central bank stated that the interest rates are still remain similar, this still the same rates for the borrowers and for the current level of the cash rate.

”Pending further information about international and local conditions for demand and prices, the Board views this setting of monetary policy as appropriate,’’ said the RBA in a statement.

However the RBA got rid of their previous references to have the latest rates being the appropriate ”in the near term”, moving up fears of a rate rise in approaching months. With most of the economists usually welcomed the choice and felt a different rate rise would have been unfounded, at the same time as the improvement in the conjugal economy assemble impetus nevertheless remains irregular with smoothness in the building and put on the market sectors. As the recent survey released that the Australian Bureau of Statistics revealed a bumper $1.645 billion trade surplus for May with additional than three times the $500 million predictable by the market.

Source: Herald Sun News