As well as not raising interest rates this week, the RBA said that neither the market nor commentators expected rates to rise again "for quite some time". Very significantly the RBA governor Glenn Stevens said this level of rates was "appropriate for the economic outlook."
Perhaps it's a shame that the RBA raised rates in November not December, because that earlier unexpected rate rise seems really to have damaged buyer confidence. The sale value of houses sold since that rise has been noticably down. Hopefully this latest announcement will get sales going again!
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