(Quartile Research)
As expected, the Reserve Bank (RBA) announced this week that it has decided to again leave the Official Cash Rate (OCR) steady at 6.50 per cent, bringing a sigh of relief to many homeowners.

RBA Governor Glenn Stevens has not ruled out the possibility of a further increase this year, however, due to the Bank’s concerns over the continuing strength of the local economy and the unsteady state of the global credit markets. The last increase – the only one for this year so far – was in August.

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