RBA increases rates by a further 0.25%
At its monthly meeting the RBA Board decided to raise the cash rate by 25 basis points to 4.5%, effective 5 May 2010.
This sixth rise in the current cycle marks a further move towards a "neutral" level.
Here is a short extract from the Governor's statement:
"The Board expects that, as a result of today’s decision, rates for most borrowers will be around average levels. This represents a significant adjustment from the very expansionary settings reached a year ago."
The increase is effective from 5 May 2010.
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