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No change to interest rates (1)

The stability of the Australian economy was once again hightighted this week with the decision to leave interest rates unchanged.This could be further stimulus to an improving East Coast property market.

The Reserve Bank (RBA) announced this week that it has decided to again leave the Official Cash Rate (OCR) steady at 6.25 per cent, bringing a sigh of relief to many homeowners.

RBA Governor Glenn Stevens said last month that the Board was not planning to raise rates in the near future, but did not rule out the possibility entirely. While this week's decision was expected, economists are now expressing mixed opinions, with some even suggesting that the Bank may lower the OCR if the economy continues to slow. 

- interest, economy, outlook, expect

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