Reserve holds interest rates

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The Reserve Bank has left its key interest rate unchanged at 4.25% per cent for the second consecutive month at its board meeting today.

The decision left the market unsurprised and in line with a Bloomberg survey of 19 economists.

However, president of the Real Estate Institute of Australia Pamela Bennett was disappointed, saying a rate cut this month would have been positive news for mortgage holders.

“A rate cut would have assisted those who are struggling with a mortgage and would have been the catalyst needed to encourage more first-home buyers into the market,” said Ms Bennett.


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