pommie bastard

The rates look like they will rise on the next move so beware.


Australia's Reserve Bank has explained why it decided against cutting official interest rates in each of the past three months.

It has also signalled a reduced chance of any cuts in the period ahead.

At the time of its June board meeting the central bank judged that economic risks had shifted sufficiently for a rates cut to be at least considered.

In its quarterly statement on monetary policy issued today the bank says there was an increasing likelihood of a more extended period of global economic weakness and the Australian dollar was posing a threat to the export sector.

But undiminished are the risks flowing from unsustainable growth in lending to the household sector, pushing up house prices, potentially destabilising the broader economy and the cycle turns.

In summary, the Reserve Bank says the case for an easing in interest rates is judged to have weakened since June.