Advertisement
Powered by MOMENTUM MEDIA
lawyers weekly logo
Growth

Rates stable, for now

3 minute read
The Adviser

Despite continued strong economic growth, the Reserve Bank of Australia (RBA) has left interest rates unchanged.

The decision did not come as a surprise for many leading economists. Uncertainty over the potential damage of the current global credit crisis is suggested as an influencing factor in the decision to leave rates put.

The RBA upped rates 25 basis points last month to its current level of 6.50 per cent – the highest level in 11 years – following a spike in inflation in the three months to June. It was the ninth rate rise since 2002.

default

JOIN THE DISCUSSION

You need to be a member to post comments. Become a member for free today!
You have 0 free articles left this month.
Register for a free account to access unlimited free content, or become a PREMIUM MEMBER to enjoy a wide range of benefits