RBA rates decision too cautious say ACCI

By: Chris Smith


In the wake of today’s decision by the Reserve Bank Of Australia not to lower interest rates, the Australian Chamber

In the wake of today’s decision by the Reserve Bank Of Australia not to lower interest rates, the Australian Chamber of Commerce and Industry (ACCI) has called on banks to ensure that interest rate reductions in past months are now fully passed on to the business community.

The ACCI say today’s decision by the RBA to reduce interest rates is too cautious, and will disappoint many small and medium business owners who are experiencing serious cost pressures as they try to hold on to jobs in the face of the economic downturn.

"Monetary policy remains tight for businesses in Australia. Our interest rates are higher than comparable nations, and the full value of past reductions is yet to flow through to business customers," say the ACCI.

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