Tuesday, February 07, 2012

 

No interest rate cut for Illawarra mortgage holders

 

Official interest rates have been left on hold.

 

The Reserve Bank has held back on any further cuts - keeping the cash rate at 4.25%.

 

Economists had widely been predicting a .25% cut due to weak retail figures this week.

 

Some analysts say the "wait and see" approach should not come as a surprise following rate cuts in November and December last year.

 

Inflation remains under control, there are signs the US economy is turning around, and the situation in Europe is relatively steady.