Powered by MOMENTUM MEDIA
realestatebusiness logo

Breaking news and updates daily. Subscribe to our Newsletter!

Home of the REB Top 100 Agents
Breaking news and updates daily. Subscribe to our newsletter

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

RBA Leaves Cash Rate Unchanged - August 2009

By Staff Reporter
04 August 2009 | 1 minute read

The Reserve Bank of Australia (RBA) has kept interest rates on hold for the fourth consecutive month, leaving the cash rate at 3 per cent, a 49 year low.

Advertisement
Advertisement

In the central bank’s board meeting earlier today, governor Glenn Stevens said improved consumer confidence had fuelled the RBA’s decision to leave the rate unchanged.

“Economic conditions in Australia have been stronger than expected a few months ago. Measures of confidence have recovered a good deal of ground. This suggests that the risk of a severe contraction in the Australian economy has abated. The most likely outcome in the near term is a period of sluggish output,” Mr Stevens said.

According to Mr Stevens, the present setting of monetary policy is appropriate given the economy’s circumstances.

However, he said the board would continue to monitor how economic and financial conditions unfold and impinge on prospects for sustainable growth.

RBA Leaves Cash Rate Unchanged - August 2009
default
lawyersweekly logo

Tags:

Do you have an industry update?

top suburbs

12 month growth
Travancore
49.78%
Timboon
49.57%
Dolphin Point
49.51%
Nyah West
49.42%
Preston Beach
49.29%
Newington
48.97%
Killcare Heights
48.89%
Wundowie
48.77%
Homebush
48.44%
Glenside
48.28%
SEE AREA REPORTS ON SMART PROPERTY INVESTMENT WEBSITE
Subscribe to Newsletter

Ensure you never miss an issue of the Real Estate Business Bulletin.
Enter your email to receive the latest real estate advice and tools to help you sell.