Barry Leddicoat

Reserve leaves rates on hold

THERE will be no Melbourne Cup Day relief for people with mortgages, after the Reserve Bank of Australia announced it would keep interest rates on hold at 3.25 per cent.

Economists had widely been predicting the Reserve would drop rates to 3% in an effort to counter a slowing economy.

However, the RBA chose not to reduce the cash rate, blaming high inflation in the September financial quarter.

Yesterday is the first time in six years interest rates have remained steady on Melbourne Cup day.



How beers around the campfire led to this very cool business

premium_icon How beers around the campfire led to this very cool business

They left their council and construction jobs to follow a dream

'This will be huge': New show like a theme park ride

premium_icon 'This will be huge': New show like a theme park ride

"You'll come out saying, 'what did I just see?'”

Funding to save 300-year-old pine trees

premium_icon Funding to save 300-year-old pine trees

MP says coastal cypress pines need to be preserved

Local Partners