AUGUST RATES ON HOLD
"Steady as she goes” says the RBA. The RBA has decided to keep rates on hold at 3.5% for the fourth month in a row. While commodity prices have fallen sharply in recent weeks, the RBA did not see enough economic evidence to warrant a rate cut at this time. Economists are still predicting a rate cut before the end of the year, let’s hope we don’t have to wait until Christmas for our present!