RBA LOWERS RATES TO IN AN ATTEMPT TO FOSTER SUSTAINABLE ECONOMIC GROWTH
Friday, February 6th, 2015With recent falls in the commodity, oil and gas prices, the Western Australian economy appears to be contracting as the viability of some mining projects appears to be compromised with sharp falls in these markets. We are of the opinion that this has reduced both business and consumer confidence and has caused subdued property market conditions. The Reserve Bank of Australia (RBA) board decided to lower the cash rate by 25 basis points to 2.25% at its 3 February 2015 meeting, which is the lowest cash rate in Australia’s history. Reasons for the Board’s cash rate reduction included; the continued decline ...
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