Reserve Bank of Australia News
The Reserve Bank of Australia left the cash rate at 3.0 percent at its 4th August 2009 Monetary Policy Meeting of the Board.
However, further rates cut was hinted by the the Reserve Bank of Australia to be unlikely.
"Members noted that the cash rate had been reduced to the current very low level in anticipation of very weak economic outcomes. In recent months, members had left open the possibility of further reductions in the cash rate should further downside risks to the economy emerge. Given the recent improvement in the global and domestic outlooks, it now appeared unlikely that this would be necessary. In fact, if the economy evolved as anticipated in the forecasts, the Bank would in due course need to adopt a less expansionary policy stance."
So can we expect interest rates to rise in the future as the Australian economy recovers?
Keep reading Fixed Deposit Rates Australia to find out more.
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