Interest Rates Take Another Leap
Wednesday, August 2nd, 2006
The news everyone was hanging on. Despite pleas from Howard and Costello the RBA has decided to lift cash rate to 6.0% with their desicision based on an underlying inflation rate of 3%, above-average global growth and strong domestic demand indicating likely inflation increases ahead.
Even with the previous interest rise there was still a strong demand for finance from the household and business sector contributing to the need for the brakes to hopefully be applied with this rise.
