RBA & Interest Rate Stability Talk to us Phone us Email us Breadcrumbs UniBank About Us Member news & media 2014 RBA & Interest Rate Stability 07 March 2014 07 March 2014 RBA & Interest Rate Stability The governor of the Reserve Bank of Australia, Glenn Stevens, fronted the Commonwealth Parliament’s House Economics Committee recently and gave the strongest commitment yet to a continuation of record low rates. As reported on the ABC website on 7 March 2014, Mr Stevens has stated to the committee; "As well as the low level of rates generally, a sense of stability, if we’re able to offer that, is something that, at the margins, should be of some help to businesses and households as they make their own plans,” “That’s a bit of a shift on our part, where we had been saying that there might be scope to go down a bit more if needed; I don’t think we do need to, at this point in time.” The governor also commented on household debt, property investment, housing credit growth, economic growth and unemployment, also stating; “Some forward [employment] indicators here have stabilised and turned up just recently, and that’s promising, but even with that and even with the improved growth outlook, the labour market will probably remain soft for a while yet given that it lags changes in economic activity.”
