Cairns Home Loans

Interest Rate Bulletin September 2012 - RBA Leaves Cash Rate Unchanged

At its meeting today, the Board decided to leave the cash rate unchanged at 3.50 per cent.

Statement by Glenn Stevens, Governor: Monetary Policy Decision

Having picked up in the early months of 2012, growth in the world economy has since softened. Current assessments are that global GDP will grow at no more than average pace in 2012, with risks to the outlook still on the downside. Economic activity in Europe is contracting, while growth in the United States is only modest. Growth in China remained reasonably robust in the first half of this year, albeit well below the exceptional pace seen in recent years. Some recent indicators have been weaker, which has added to uncertainty about near-term growth. Around Asia generally, growth is being dampened by the more moderate Chinese expansion and the weakness in Europe.

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John Watts
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Cairns Home Loans
140 Mulgrave Rd
Cairns
QLD
4870
Tel: 07 4041 3100
Mob: 0418716033
Fax: 07 4041 6355


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