Login
ISCOVER
Interest rates climbed to 6.75 per cent this morning following yesterday’s RBA board meeting.
The 25 basis point rise was partially in response to underlying inflation – which was 0.9 per cent in the September quarter and close to three per cent over the past year.
On a more positive note, the RBA stated that tightening credit conditions sparked by global turmoil have been “less pronounced” in Australia.
You’re out of free articles for this month
To continue reading the rest of this article, please log in.
Create free account to get unlimited news articles and more!
Looking for more benefits?
Become a Premium Member.
“Wholesale funding costs have risen a little compared with official rates, and some borrowers have experienced an increase in interest costs as a result, but the flow of credit to sound borrowers does not appear to have been impaired,” said RBA Governor Glenn Stevens.
JOIN THE DISCUSSION