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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 7.25 per cent, effective 5 March 2008.

If you have any questions about this change to interest rates, or would like to review your current finance & loan arrangements, please contact our office.

Statement by Glenn Stevens, Governor Monetary Policy RBA

This adjustment was made in order to contain and reduce inflation over the medium term. Inflation was high in 2007, with an annual CPI increase of 3 per cent in the December quarter and underlying measures around 3 1/2 per cent. Domestic demand grew at rates appreciably higher than the growth of the economy's productive capacity over the 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.