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Old 04-02-2002, 18:16   #1 (permalink)
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Interest rates stay the same

Good news for those of you with mortgages...

Homebuyers will enjoy the lowest mortgage rates in 28 years for at least another month, with the Reserve Bank leaving interest rates unchanged.

No announcement was made today at 0930 AEST, the usual time the RBA announces a change in interest rate settings after its monthly board meeting.

Economists said there had been a 40 per cent chance of interest rates being lifted from 4.25 per cent to 4.5 per cent this month.

But they said if the RBA left rates unchanged this month, it would almost certainly raise them next month to prevent the Australian economy from overheating.

Recent indicators have shown the Australian economy growing briskly and no longer in need of the stimulus provided by the lowest official interest rates in 28 years.



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Old 04-02-2002, 18:21   #2 (permalink)
 
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That is good news!
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Old 04-02-2002, 18:25   #3 (permalink)
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Old 04-02-2002, 19:29   #4 (permalink)
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ahh interesting i think - doesn't have any affect on my as i am not looking for home loans .. but i thought the RBA would of been a bit more weary of unemployment, inflation maybe?
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Old 04-03-2002, 00:37   #5 (permalink)
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The RBA are gonna be a little more circumspect about rises after their premature efforts in 2000, multiplying the slow down effect of the GST with interest rate rises was pretty dumb!!
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