Where to with Interest Rates? - An Update 24 October

Written on the 24 October 2013 by Callum Scott

The consumer price index (CPI) rose by 1.2% in the September quarter. 

This makes the current annual inflation rate 2.2% which sits favourably within the RBA’s target range of 2% to 3%.

For housing, the increases in this quarter were:
      Water and sewerage: 9.9%
        Rates: 7.9%

For the year to September 2013, electricity was the largest increase for housing, being 6.1%.
Rents increased 3.2% for the year.

Mr Peter Bushby, President of the Real Estate Institute of Australia states that, “With inflation well under control and a subdued economy, it’s appropriate that the Reserve Bank of Australia (RBA) Board maintains interest rates at their present level when it meets on Melbourne Cup Day”.

It looks like there’s a good chance that any change in rates will be next year.

Author: Callum Scott
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