Annual headline inflation is now 3.5%yr but at 2.5%yr, the average annual underlying inflation rate is at the mid-point of the RBA's 2 to 3% target band. Read more
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Cup Day & Cut Day - The RBA Cuts Rates by 0.25%
Danny Masri - Tuesday, November 01, 2011
For the second consecutive year the Reserve Bank of Australia has upstages the Melbourne Cup.
Last year the RBA stunned punters with a 0.25% rate rise however today, it was a relieving rate cut. Economist widely tipped a November rate cut to 4.50% following last week’s benign inflation result. The weak global growth outlook and the continued confidence sapping European Debt Crisis were the catalyst for a very welcomed rate cut.
The improved debt servicing position of all borrowers will be a welcomed improvement to anyone with a mortgage. Today’s rate cut is expected to be provide an improvement to consumer confidence which should lead to improvement in consumer spending and an uplift in housing transactions.
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Cup Day & Cut Day - The RBA Cuts Rates by 0.25%
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