Interest rates up again
At its 1st December meeting , the RBA Board decided to raise the cash rate by 0.25%.
This is the third rise in as many months, signalling renewed confidence in the strength of the economy.
The RBA made the following statement in support of its decision:
"Growth in 2010 is likely to be close to trend and inflation close to target.
With the risk of serious economic contraction in Australia having passed, the Board has moved at recent meetings to lessen gradually the degree of monetary stimulus that was put in place when the outlook appeared to be much weaker.
These material adjustments to the stance of monetary policy will, in the Board’s view, work to increase the sustainability of growth in economic activity and keep inflation consistent with the target over the years ahead."
If you would like to investigate whether refinancing your home loan would assist in offsetting the recent interest rate increases, please get in touch.
