Rates stay still a win for region
HUNTER home owners were offered a timely breather yesterday after the Reserve Bank of Australia (RBA) decided to leave the official interest rate unchanged.
It defied financial market expectations of a 25-basis-point rise on top of the RBA's three consecutive moves late last year.
The decision means a family with a $300,000 mortgage would pay about $600 less in annual repayments than they were paying 18 months ago.
Hunter Business Chamber chief executive Peter Shinnick said the Reserve Bank's move to keep the cash rate at 3.75 per cent had kept the rate close to historical lows and would contribute to high levels of Hunter business activity.
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