Interest rates kept on hold

Interest rates kept on hold

Posted on Tuesday, July 03 2012 at 3:15 PM

The official cash rate remains unchanged at 3.5 per cent following today’s meeting of the Reserve Bank of Australia (RBA).

Following reductions in May and June of 50
and 25 basis points respectively, the RBA has decided to hold steady.

Economists and property industry
commentators largely anticipated today’s result. However many have tipped
further cuts later in the year if economic conditions in Europe don’t improve
or deteriorate.

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