Archive for September, 2014

Weakening Property Markets a cause to keep rates on Hold

The Reserve Bank of Australia (RBA) Board decided to leave the cash rate unchanged at 2.5% at the 2 September 2014 meeting. In a statement released by RBA Governor, Glen Stevens, he indicated “growth in the global economy is continuing at a moderate pace . . .with weakening property markets a challenge in the near term . . . and commodity prices important to Australia have declined this year.” He went on to say “resource sector investment spending is starting to decline significantly” as well as “public spending is scheduled to be subdued.” In relation to unemployment, the RBA stated “the ...