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RBA Keeps Interest Rates On Hold

RBA Keeps Interest Rates On Hold - As predicted by most economists, the Reserve Bank has left interest rates on hold at 4.75 per cent.

Not one of the 25 economists surveyed by financial company Bloomberg expected the official cash rate to increase today.

The moves by banks to increase their lending rates last month beyond the official RBA rise and the strong Australian dollar appear to be helping the Reserve Bank with its job of keeping a lid on inflation.

Last week's weaker-than-expected September quarter GDP number and a decline in retail sales in October may have also given the Reserve Bank a little more room to move.

But most economists expect the RBA will have to tighten monetary policy by the second quarter of next year, as the resources boom drives huge export earnings and could put a strain on the spare capacity in the economy.

RBA Keeps Interest Rates On Hold

Comments

Charlie Norwall said…
Interesting that American and Australian interest rates have settled in at a 1 basis point difference. Additionally Japan and the UK as well as a few others have had their rates come to a halt on the same day. There have been surprisingly few moves on currency considering these circumstances.

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