RBA keeps rates on hold again

Posted by Simon Dehne on December 1, 2015 in Latest News with No Comments

The Reserve Bank has decided to keep interest rates on hold at 2.0 per cent for a sixth consecutive month at its last board meeting of the year.
Following the RBA’s previous announcement to leave the cash rate unchanged at its November board meeting, academics and economists predicted there would be no movement in the cash rate in the foreseeable future.
Also read: House values plunge across Australia
The decision is supported by soaring employment numbers and a five-month low for the jobless rate, negating the need for another interest rate cut.
Australia’s unemployment rate fell to a surprise 5.9 per cent in October, its lowest point since May and well below the 6.2 per cent that economists had forecast.
The total number of people with jobs had surged by 58,600 in the month, nearly four times what economists had expected.

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