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RBA Rate Bulletin

John Kinross
Director

PO Box 741
Rozelle NSW 2039
Tel:1300 885 559
Mob:0405 534 344
Fax:1300 885 559

RBA Increases Official Cash Rate

At its meeting today, the Reserve Bank Board decided to increase the cash rate target by 25 basis points, to 7.00 per cent.


If you have any questions, or would like to review your home or investment loan situation and options, please contact our office.

Statement by Glenn Stevens, Governor Monetary Policy RBA
Recent information points to significant inflation pressures. CPI inflation on a year-ended basis picked up to 3 per cent in the December quarter, with underlying measures around 3.5 per cent. This was a little higher than was expected a few months ago. Indicators of demand remained strong through the second half of 2007, and reports of high capacity usage and shortages of suitable labour persist. In the short term, inflation is likely to remain relatively high and will probably rise further in year-ended terms, though the Bank expects it to moderate somewhat next year.

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Disclaimer: This newsletter is intended to provide general news and information only. Readers should rely on their own enquiries before making any decisions regarding their own interests. Please do not rely on any part of this newsletter as a substitute for specific legal or financial advice. All material is copyright 2007.