The Reserve Bank of Australia (RBA) has decided to keep interest rates on hold and leave rates unchanged at 2.5%
In a move sure to be welcomed by homeowners looking to get into the market before Christmas, the Reserve Bank decided to keep rates on hold after it emerged retail sales bounced back strongly in September, alongside rising house prices in most Australian capital cities.
No further changes in interest rates are now tipped before 2014.
RBA governor Glenn Stevens said economic growth was still a little bit below trend, but he expects the economy to pick up next year.
In a statement released alongside the decision to leave rates on hold, Mr Stevens said “Private demand outside the mining sector is expected to increase at a faster pace, though considerable uncertainty surrounds this outlook,”
“There has been an improvement in indicators of household and business sentiment recently, but it is still too soon to judge how persistent this will be.”
What are your thoughts? Do you think there will be further cuts to interest rates or will they start to head back up?
Leave a comment below.
Found this article useful?
Consider using the buttons below to share on your favourite social network.
By Wendy Chamberlain
Copyright 2013 Social Property Selling
WANT TO USE THIS ARTICLE?
You can as long as you include the following (links must be active):
Social Property Selling is the brainchild of Wendy Chamberlain, a trainer, speaker, International best-selling author and online engagement strategist who combines her online savvy with her passion for real estate to show sellers and real estate agents alike how to achieve a better price when selling a home. To receive your FREE Special Report and how-to articles to expand your real estate toolkit, visit www.SocialPropertySelling.com.
Google+
{ 0 comments… add one now }