Interest Rates up to 5.0%
Yesterday the Reserve Bank lifted short-term interest rates by 0.25% to 5.0%. This is the first change in interest rates since 5 June 2002. Interest rates reached a low of 4.25% on 5 December 2001 and a high of 17.5% on 23 January 1990 (at the time of the last house price boom and recession). So how far will rates go this time? It depends on how the house punting day-traders and viewers of the next "The Block" series behave.
Posted Thursday, 6 November 2003
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