RBA left rates at 3.00% for second month

The Reserve Bank of Australia left interest rates unchanged yesterday.

The current interest rates are on a 49 year low of three percent. The reason the RBA left the rates unchanged was due to some evidence that the Global economy was stabilizing.

Governor Glen Stevens said rates were kept the same due to the stimulus package helping the recovery with the turnaround clearest in China.

Stevens went on to state that the prospect of inflation declining over the medium term suggest that scope remains for some additional easing of monetary policy if needed.

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Published on June 6-rd, 2009 in Home Loans
Damon Rasheed is the CEO of Rate Detective, an Australian financial service comparison sites specialising in Life Insurance, Income Protection Insurance and home loans. Damon holds a Master's Degree in Economics from the University of Melbourne and has been involved in many start-up internet businesses.
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