The Biking Broker Newsletter - 6th October 2009
Reserve Bank Lifts Rates to 3.25%
The RBA has today lifted the cash rate by 0.25%.
A statement by Glenn Stevens, Governor of the Reserve Bank, cites the following reasons:
- a resumption in growth of the global economy
- improving sentiment in global financial markets
- stronger than expected measures of confidence in the Australian market
- lower than anticipated unemployment
- housing credit growth and housing price growth
These and factors that formed the basis for the low interest rate setting have, in the RBA’s view passed.
A full transcript of Glenn Steven’s statements is available here>>