RBA meeting March 2010: Interest Rates rise to 4.00%

Reserve Bank of Australia (RBA) raised official interest rates by 25 basis points to 4.00% at it's March 2 meeting.

Today's decision is a further step to make official interest rates closer to average:

"The Board judges that with growth likely to be close to trend and inflation close to target over the coming year, it is appropriate for interest rates to be closer to average."

The increase today will add about $50 to the monthly repayments of an average mortgage in Australia.

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