Tags: RBA
RBA rate rise a sound decision for economic sustainability
March 4th, 2010Harcourts Managing Director Mike Green has applauded the Reserve Bank of Australia’s (RBA) decision to increase official rates by 0.25 per cent.
“During the last 12 months we have seen the RBA act cautiously, which allowed market growth to gain its momentum before the RBA took further action. This is a very sensible approach in my opinion,” Mr Green said.
“Harcourts has seen a steady market, with figures across the Harcourts Group in February of this year reflecting a twelve per cent increase on February 2009.
“While this percentage increase isn’t large, it’s steady, which indicates a market that is ready for a minor increase like this rise of 25 base points,” he said.
“And interest rates are still very low compared to historical numbers, so I consider a cash rate of four per cent to be extremely favourable,” he said.
“We must bear in mind the Australian economy has performed well during the last two years in…
RBA decision bodes well for Australian property market
February 5th, 2010The Reserve Bank of Australia on Wednesday made the decision to hold an interest rate rise. This is a welcomed reprieve for the real estate industry, and will be appreciated by many families and businesses.
Due to previous rate rises, banks have increased their interest rates by several points over recent months.
Glenn Stevens Governor of Monetary and Policy Decision said since information about the early impact of these increases is still limited. The Board judged it appropriate to hold a steady setting of monetary policy for the time being.
Managing Director of Harcourts International, Mike Green, said to ensure the market is able to withstand further increases in the future, the RBA needed to make the decision they did.
“It would have been premature to count our economy strong enough to endure four rate rises in less than six months.
“This has already been reinforced by the weaker retail sales figures for December, which…
