Thursday, December 03, 2009

The first time the RBA has ever lifted rates three months in a row

Hi InsideStory readers,

Here you go the latest CommSec report.

Some excerpts from the report to give you a feel for what it covers…..

The Reserve Bank (RBA) has increased interest rates for the third consecutive month – the first time it has ever lifted rates three months in a row. The cash rate was lifted from 3.50 per cent to 3.75 per cent.

􀂠 The RBA made two references to higher dwelling prices in the latest statement. The housing market will clearly be a central issue for the RBA in 2010.

What does it all mean?

• The latest rate hike will have its greatest impact on consumer sentiment & psychology rather than on household finances. According to the Commonwealth Bank more than 90 per cent of its home loan customers are ahead in their loan repayments. And while those who have taken out loans in the past six months may be up for higher repayments, few could say that they didn’t see it coming.

CommSec Report - Ecomonic Insights (pdf)

Enjoy the read, and remember to send you questions to and we will answer them every Wednesday Live and Interactive on the show, and blog them to you as well.


Anthony Toop, Managing Director.

© Toop Real Estate Group

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