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Reserve Bank Interest Rate Announcement

Interest Rates 1In its first meeting for 2013, the Reserve Bank has decided to keep rates on hold for at least another month.

The official interest rate remains at 3 per cent.

The decision comes as some positivity has returned to the real estate market with buyer enquiry up and auction clearance rates stronger in the final quarter of 2012.

“There has been a general lift on confidence in the property market,” says Domain property expert Carolyn Boyd.

“Agents are reporting good numbers of potential buyers through open homes and the auction season is warming up.”

The Reserve Bank began relaxing monetary policy in November 2011, slashing rates by 1.75 per cent over six moves.


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