ANZ follows RBA's lead on unchanged rate

by Caroline Dann13 Aug 2012

RBA's wait-and-see approach is filtering through to the banks, with ANZ leaving its variable rate unchanged for a second consecutive month.

It announced last week the rate would remain at 6.8%.
It comes after the RBA left its rate unchanged at 3.5%, with economists predicting a period of stillness before activity resumes in spring.
RP Data's analyst Cameron Kusher said measures of spring growth are "more positive than the ten-year average and these are likely to be a positive for the housing."
However, in what has become an increasingly common refrain, it won't be as dynamic as previous years.
"In comparison to recent years we would not expect the housing market to power along through spring in the manner that it has previously," he said.

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