Interest rates will remain on hold until February 2011 as the Reserve Bank left rates unchanged for December. The RBA takes a break in January thus February will be the next review of rate levels.
Recent economic data reveals that the Australian economy has fallen behind many of the world’s most advanced economies. Retail sales have fallen to their lowest levels since July 2009, with most retailers predicting a very slow Christmas and January. These factors led the RBA to leave rates on hold after the Melbourne Cup day rise in November.
The last rate rise in November stretched many families beyond their comfort levels. If you know someone who is feeling the stress about their financial situation, then talk to us. We’ll arrange and appointment with them to see how we can assist with their future.
