Resources: Market Update
February 2010
RBA LEAVES AT 3.75%
Posted 03/02/2010
In a move that has surprised many the RBA decided to leave the cash rate unchanged at 3.75%.
Most analysts had tipped a rate increase of 0.25% in light of the recent strong data coming out regarding property, employment and spending.
In a statement released by the Governor explaining their position; Glenn Stevens said "Credit conditions nonetheless remain difficult in the major countries as banks continue to face loan losses associated with the period of economic weakness. Concerns regarding some sovereigns have increased,"
It is welcome news to those already suffering under the pain of the last months increases.
