Interest Rates On Hold for September

Interest rates are kept steady at 2.50% for the month of September, less than a week out from the election.

The Reserve Bank are using a wait a see approach to see how local and global economic conditions move. Economists are predicting another interest rate cut before Christmas to aid Australia’s flagging economy.  They are siting the month of November on Melbourne Cup day as the date that interest rates are likely to drop again.

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