RBA meeting September 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 September 6, 2011.

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

  • The outlook for the global economy is less clear than it was earlier in the year.
  • Australia's terms of trade are still at very high levels and national income has been growing strongly.
  • The near-term growth outlook continues to look somewhat weaker than was expected a few months ago.
  • Growth in employment has moderated over recent months and the unemployment rate has been little changed, near 5 per cent.
  • Credit growth has declined over recent months and is very subdued by historical standards.
  • Year-ended CPI inflation should start to decline towards the end of the year, as temporary weather-related effects reverse.

So the Board judged that it was prudent to maintain the current stance of monetary policy. In future meetings, the Board will continue to assess carefully the evolving outlook for growth and inflation.

Economists expect the RBA will keep rates on hold for the next few months but believe a worsening in the world economy could trigger a cut later this year.

However some lenders already cutting their rates. 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...

Get your quotes now

What to find out more? Enquire now

Published on September 9-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.
Enquire about Home Loans
Please enter the estimated value of the property

Important Information

Not all providers in the market are included in the comparison.

Any information or advice contained on this website is general in nature and has been prepared without taking into account your objectives, financial situation or needs.

Related Topics