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Interest Rates rise by 0.25%

May 4, 2010 in Latest News, Rate Rises by admin  |  No Comments

For the 3rd time this year the Reserve Bank of Australiahas increased Interest Rates by 0.25% p.a.

Ongoing inflation pressures and the booming mining sector were noted as significant reasons behind the rate rise. With the Official Cash Rate now at 4.5% many economists are predicting that we are nearing the “Normal Interest Rate” level which the RBA has been aiming to achieve.

Posted in Latest News, Rate Rises.