Essendon & Moonee Valley Blog

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No change to interest rates

Interest Rates(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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