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Australia increase interest rate
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7 October 2009

The Reserve Bank of Australia (RBA) has announced an interest rate rise, on the back of strong Australia property and economic growth.

RBA governor Glenn Stevens has decided to raise the cash rate from 3% to 3.25% in order to contain inflation as the economy continues to improve.
Stevens noted that there are various sins suggesting that the economy in Australia would continue on an upward trend.

The decision should see the cost of borrowing finance to buy property in Australia increase slightly over the next few days, as lenders factor in the fresh rate rise, which in turn may help slow demand and contain strengthening Australia real estate values.

The average price of a property in Australia increased by 1.9% in August, according to the RP Data - Rismark Home Value Index.

See Also:   (269), (35), (25), (1)
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