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« 8 Secrets to Success | Main | Australian Banks Under Siege! »

May 01, 2010

Another Rate Rise is on the cards!

Rate Rise This week the Australian Bureau of Statistics released their Consumer Price Index figures for the March 2010 quarter. The Consumer Price Index measures the level of price inflation and the results showed that over the last 12 months, prices had inflated by 2.9%. When volatile items are removed from the results a 2.9% increase has also been recorded. The Reserve Bank’s target for inflation is between 2% and 3% on an annual basis and given this, inflation of 2.9% is on the high side of their target range and may be cause for concern. Given these results, the likelihood of another interest rate increase when the Reserve Bank Board meets next Tuesday has probably increased due to these figures.

(Source RPData and ABS 30/04/2010)

Posted at 03:28 PM in Current Affairs |

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