Interest rates to remain on hold…for now

14 JUL 2010 • 1 min read • Finance

Interest rates are expected to remain on hold for the foreseeable future.

According to NAB’s latest monthly business survey, interest rates are likely to remain at 4.5 per cent until late 2010.

But while rates remain on hold for now, NAB’s chief economist Alan Oster says the RBA will inevitably raise rates again before the end of the cycle.

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“Interest rates will peak at 5.5 per cent by mid 2011 and inflation will be revised up to 3 per cent before year’s end,” Mr Oster said.

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RELATED TERMS

Interest

Interest is the amount of money charged by a lender or financial institution for a loan, which is calculated as the percentage of the principal amount paid over the loan term.

Rates

Rates refer to a fixed price or an amount charged by sellers or providers for their goods and services.