The lower than expected Inflation Figures released on Wednesday (27/10/2010) provide hope for borrowers that the Reserve Bank will keep Interest Rates on hold in November 2010.
This is the belief of several senior economists including Commsec Chief Economist – Craig James who stated:
“following the release of “beautiful” CPI inflation figures yesterday – which put inflation at 2.8% over the past 12 months, within the RBA target range of 2-3% – rates were likely to stay on hold”.
The RBA will announce their decision following their next meeting on Melbourne Cup Day (2/11/2010). This is great news for Australian Families who are still facing financial challenges left over from the “Global Financial Crisis”.