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Interest Rates fall again

By Ben Faulks

Citing cooling commodity prices, and cuts to both state and federal budgets looming the Reserve Bank has stepped in at their October meeting, and dropped rates by a futher 25bps to an official cash rate of 3.25 per cent.

This cut represents the fifth rate cut that we have seen in the past 12 months, and rates have fallen a total of 1.5 per cent since the current easing cycle commenced.

With increased activity already evident as a result of the warmer weather and past interest rate cuts, the move is expected to be stimulatory for the local property market.

To discuss what this means for you and your property in further detail, contact the team at Ray White Belconnen on 02 6173 6300

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