Australia | Jul 05 2006
By Greg Peel
It was not a huge surprise that the RBA yesterday decided to leave rates where they are (5.75%). Consensus tended towards no change, although some economists thought another hike was a given. ANZ, for example, gave it a 5% chance.
The last rise was in May, and many believed we had to see some follow through of that hike for a longer period. Tax cuts have only just come into play this week as well.
A more extensive analysis will follow this newsflash.
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