BREAKING NEWS … No Change to Interest Rates
5th March 2013 –
Following today’s Board Meeting the Reserve Bank has elected to retain the Official Cash Rate at the current level (3%). This decision was widely anticipated considering the recent financial data confirming improvements in the domestic economy combined with an increasing sense of stability in the USA and European Economies.
The Reserve Bank is prepared to reduce rates further during 2013 if / when this action is required however the decision to keep rates on hold during March is supported by most Senior Economists.
