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December Cash Rate Announcement


The Reserve Bank of Australia (RBA) have made their announcement.

As predicted by many economists the RBA has decided to keep the official cash rate on hold at 1.50%.  This is the 16th consecutive month the RBA has kept rates on hold, since rates were cut by 25 basis points in August last year.

The announcement was predicted by most finance and economist experts across the sector with the general consensus being that the RBA will continue to hold rates for some time to come.

South West Credit CEO David Brown said there was no need for the RBA to take action at this time, with the economy running in line with Reserve Bank expectations.