The Reserve Bank has unsurprisingly decided to cut interest rates this month indicating increased concern over the prospects for the national economy. Rates have now fallen by 2.25 percent since the current easing cycle commenced in November 2011 and are now at a record low 2.5 percent.
The Reserve Bank has decided to leave interest rates on hold for the second consecutive month following the May decision to cut rates to a record low 2.75 percent.
Housing markets generally continue to rise off the back of low rates with buyer activity in Sydney, Melbourne and Perth at its highest level for some years.
The Reserve Bank has decided to leave interest rates on hold this month. This follows last month’s surprise decision to cut rates to a record low 2.75 percent.
The Reserve Bank surprised today by announcing a cut in the official interest rate by 0.25 percent to a new record low of 2.75 percent. Today’s announcement followed three months of rates on hold with the last cut of 0.25 percent in December last year.
Rates have now fallen by a full 2 percent since the beginning of the current easing cycle in November 2011.
The Reserve Bank has continued with the recent trend and decided to leave official interest rates on hold at 3 per cent at its meeting this afternoon.
This is the third consecutive month of steady interest rate settings by the Bank with the result widely expected.
The Reserve Bank has, as expected, left the cash rate unchanged at 3% today following its February monetary policy meeting.
The Reserve Bank of Australia has dropped the Grinch’s outfit to spread some Christmas cheer by cutting the key interest rates by 25 basis points to 3 per cent.