RBA Cash Rate - September 09

Posted 3rd September 2009 | Find Investment Property

THE RBA has not changed the cash rate after its meeting on Tuesday 1st September. It is the 5th month in a row that no changes have occurred to the cash rate, either up or down.

There have been some predictions that the RBA will increase the cash rate this year, while others think it should be left to early next year. Raising the cash rate too soon could do more harm then good if the current economy is trading on false hopes. The movement of the official cash rate is now a very very fine balancing act and the RBA will need to consider what effects could occur should they raise them too soon.

The RBA Governor Glenn Stevens has indicated that the current cash rate setting is appropriate for the time being stating, "The Board will continue to adjust monetary policy so as to foster sustainable growth in economic activity and inflation consistent with the target."

"Higher dwelling activity and public demand will also start to provide more support to spending soon and, hence, growth is likely to firm going into 2010."

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