RBA leaves interest rates on hold
Announcing the decision, the RBA’s governor Glenn Stevens said that there were global signs of recovery beginning to surface, but added that the situation was still very fragile.
He added: "Market and mortgage rates are at very low levels by historical standards and business loan rates are below average, reducing debt servicing burdens considerably."
Figures shown by News.com.au demonstrate that since the RBA embarked on its rate-cutting bonanza in September, the gap between their cash rate and the average home loan interest rate has widened noticeably, with the major banks saying they have little room to make further cuts.
This article brought to you by Mozo – helping you compare interest rates