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Rate Rise Washed Out By Floods

The Reserve Bank of Australia kept interest rates unchanged today in Australia siting the recent floods accross the East Coast of Australia as a slowing effect on inflation and growth.
In its first meeting of the year, the Reserve Bank of Australia (RBA) announced that it would leave interest rates on hold.

That last rise was in November 2010, and the RBA feels that the recent floods on the East Coast of Australia will have an impact to soften the inflation rate, one of the key issues it considers in raising interest rates.

With the Australian economy performing adequately and job creation ahead of expectaitons, the RBA is prepared to take a wait and see stance and assess the overall impact of the floods in the coming months.

We see rates staying at the current level for a few months at least which will be welcome news to all Australian property owners.

Click here to view the RBA Announcement
- interest, rate, rise, market

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