As expected, the Reserve Bank of Australia (RBA) has left official interest rates unchanged at 4.75 per cent at its board meeting on December 7, 2010.
This RBA decision provided a relief for borrowers and retailers in the crucial shopping weeks before Christmas.
The central bank decided to keep rates steady after a string of weaker economic figures in recent weeks:
Other factors that influenced RBA decision to leave interest rates on hold:
The next RBA meeting is scheduled on the 1st of February 2011, so any move on official interest rates is unlikely to come before February, however banks can move rates independently.
Please fill out the form on this page to find out which Mortgage Lender in Australia offers the best Home Loan following this RBA decision...