News

The Reserve Bank today decided to leave the cash rate at a record low 2% for the fourth month in a row.

In a statement released following the decision Glenn Stevens, Governor of The Reserve Bank, said that the Australian economy shows continued, if modest, expansion, and low interest rates are acting to support both lending and borrowing.

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Rate on hold

Posted on November 14

The Reserve bank left interest rates on hold again this month with the official rate of 2.5% per annum being the lowest in 50 years, while the RBA Governor, Glenn Stevens, remarked that the dollar was "uncomfortably high".  If the Australian dollar does not fall of its own accord a further rate cut might be on the cards at some future date.

Interest Rate Cut

Posted on April 23

August 6th, 2013 The RBA today announced a 25 basis point cut to the official cash rate to 2.5%, the lowest since the 1960's.  Economists declare that there is room for further rate cuts in the next 6 to 12 months.