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Ben Kingsley Blog post by Ben Kingsley

RBA Rates Decision – November 2009

The Reserve Bank has lifted interest rates by another 0.25% in November as they move to more sustainable cash rate levels, believing we are past the worst of the Global Financial Crisis.  The RBA believes the Australian economy has weathered the global storm well, and will be one of only a few countries that will to lead the rest of the developed world in economic growth in 2010.

Commentary in the announcement included ‘the Board’s view is that it is prudent to lessen gradually the degree of monetary stimulus that was put in place when the outlook appeared to be much weaker’ which most commentators see as a sign they don’t believe rates will move up too fast moving forward, as the RBA balance the risk of slowing down the economy with the increased risk of an overheated economy if rates stayed low for too long.

 

 

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