RBA meeting October 2011: Rates On Hold at 4.75%

The Reserve Bank of Australia (RBA) has left official interest rates unchanged at 4.75 per cent at its board meeting on October 4, 2011.

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

  • Conditions in global financial markets have continued to be very unsettled.
  • Australia's terms of trade are very high, which has increased national income considerably.
  • The pace of near-term growth is unlikely to be as strong as earlier expected.
  • Underlying inflation stopped falling and began to increase earlier this year.
  • Financial conditions have been easing somewhat due to increased competition.
  • The exchange rate has also declined from the very high levels.

So the Board judged the current cash rate remained appropriate. As always, the Board will continue to assess carefully the evolving outlook for growth and inflation.

Most economists speculates that the tone of the announcement sets scene for the rate cut. But some lenders are already involved in a price war. So please fill out the form on this page and make sure you don't miss on the best Home Loan deal following this RBA decision...

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Published on October 10-th, 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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