Steady as she goes on rates

Steady as she goes on rates

Posted on Tuesday, December 03 2013 at 1:43 PM

The Reserve Bank of Australia (RBA) has left the official interest rate unchanged at 2.5 per cent again this month.

The move was largely anticipated by economists and shows
that the domestic economic outlook is at least stable for the moment.

Angus Raine, chief executive officer of Raine Horne,
points out that the strong performance of many capital city property markets is
helping to boost confidence.

“News that some markets took a breather in November will be
noted by the RBA, however it’s fair to attribute some of this trend to the
disruptive impact of the festive season, horse racing carnivals and the like,”
Raine says.

The past year has been a solid one for real estate markets,
which is one of the desired outcomes of the RBA’s downward cash rate trend.

A string of economic indicators in recent months have also
been steady or positive, including business and consumer confidence measures
and contained inflation data.

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