RBA Rates Unchanged As Lenders Move Up
Looking to keep the Australian economy steady and moving in an upward trend, the Reserve Bank has left the official cash rate on hold for yet another month. However, lender rate rises have begun, with lenders making a move to independently raise rates to negate their rising costs.
Here’s the deal: Given this move by lenders, economists predict that the RBA won’t make changes to the official cash rate anytime soon. Plus, these financial commentators suggest that if lenders continue to make independent rises, then the RBA may be forced to drop rates to stimulate the economy and consumer spending.
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