RBA meeting February 2011: Rates Unchanged at 4.75%

As expected, the Reserve Bank of Australia (RBA) has left official interest rates unchanged at 4.75 per cent at its board meeting on February 1, 2011.

The decision to keep the official cash rate on hold today met the expectation of financial markets:

  • Inflation is under control, and
  • Flooding in Queensland and Victoria will have just a temporary adverse effect on economic activity and prices.

It is unlikely the RBA will move interest rates in the following couple of months - the floods have increased uncertainty and until RBA receives some post-floods data they will not rush with the desision...

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Published on February 2-st, 2011 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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