RBA moves on rates

By Staff Reporter 04 May 2014 | 1 minute read

In a move which is likely to shock economists and investors alike, the Reserve Bank of Australia has announced a change to the official cash rate.

Despite 16 of Australia’s leading economists unanimously agreeing in a finder.com.au survey that the cash rate would remain on hold today at 2.5 per cent, the RBA has decided to x, taking the cash rate to y.

A majority of the surveyed experts believe the public’s reaction to the severe federal Budget cuts would prompt the Bank to delay a change in the cash rate.

In addition, nine of the economists and experts predicted rates would not rise until 2015, with five predicting a hike might come later this year.

Before the announcement, Aussie’s John Symond said the current economic climate was still tenuous and it was unlikely rates were going to change today.


RBA moves on rates
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