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Interest Rates rise 3 months in a row

December 1, 2009 in Latest News, Rate Rises by admin  |  No Comments

The Reserve Bank of Australia has announced their decision to increase Interest Rates by 0.25% p.a. for the 3rd month in a row. This is the first time that interest rates have increased over 3 consequecutive months, however, the RBA believes this is a necessary step to ensure inflation is kept under control.

In other words … A small increase in interest rates now will assist to prevent borrowers from having to incur much larger interest rate rises in the future.

Posted in Latest News, Rate Rises.