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Interest rates steady

Australia’s economic recovery might be on shaky ground, but interest rates remain steady, with the Reserve Bank once again leaving the official cash rate unchanged at 0.1% this month.

“The economic recovery in Australia has been stronger than was earlier expected”, Governor Philip Lowe said in his monthly statement, adding that recent outbreaks of the virus are, however, ‘interrupting the recovery and GDP is expected to decline in the September quarter’.

Acknowledging that the economic outlook for the coming months is uncertain and depends on the evolution of the health situation and the containment measures, Governor Lowe reiterated that interest rates will stay low for the next few years.

About Adam Nobel

Principal
M. Bus, Grad Dip Adv, B.Int Bus, LREA

adam@hugoalexander.com.au

0417 007 001

Adam is the founder and Principal of Hugo Alexander Property Group. With a previous career in advertising, 20 years experience in property investment, and 14 years in Brisbane real estate, he knows the market inside out to ensure his clients grow their wealth faster.

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