Text (in part) courtesy Brad Gooda Smartline Stones Corner, chart Courier Mail.
Today’s decision will see the cash rate lift from 3.25% to 3.50%. It is important to remember that the 3.00% cash rate was an “emergency” position for the RBA to take. The chart below depicts the rate changes in the last 4 plus years, from a high of 7.25% in March 2008 to the incredibly low 3.00% only a year later.
We have one more RBA Board Meeting (December) until February next year. It will be interested to see if the RBA wants to give us something to think about over our summer “Spending” break.
