The Reserve Bank of Australia (RBA) left the cash rate unchanged at 4.75 percent during its meeting in Sydney today; citing slow growth of the global economy and continued economic volatility in Europe and the US as drivers behind its decision.
The Reserve Bank of Australia (RBA) has decided to hold interest rates at 4.75 percent, leaving the official cash rate at the same level it’s sat at since November 2010, when the RBA last increased it by 0.25 percent.
The Reserve Bank has decided to leave the cash rate at 4.75%, announced RBA governor Glenn Stevens.
Interest rates were held at 4.75 percent by the Reserve Bank of Australia on the back of rising concerns about the European sovereign debt crisis despite wage pressures from the shortage of skilled labour on the back of a 33.2 percent increase in job ads over the last year.
Rather than waiting for the “good old times” to come back, it really is time for retailers to adapt to a new reality. In some market segments trading conditions will remain tough and may deteriorate further.
I get that “Mum and Dad homeowner” are an important segment and a huge proportion of society, but why don’t hear commentators discussing the impact on “Mum and Dad business owners”?
When it comes to interest rates, small businesses have had a rough time lately. They’ve had to cope with tough lending conditions from the big banks and now another interest rate rise.
Australian employees forced to compete for the shrinking pool of skilled workers will need to pay more to attract staff or turn to skilled migration using the Federal Government’s 457-visa program, according to KPMG’s Skilled Migration Survey 2010.
The Australian Bureau of Statistics September Quarter Producer Price Index for September shows inflation for business inputs rising, up 1.3 percent in the September quarter and up 2.2 percent for the year for ‘Stage 3’ production.
Australia’s construction industry continues to contract, with September marking the fourth consecutive month that construction activity has fallen.
