RBA holds cash rate unchanged at 2.5%, sounds another warning on housing

Tue, 07 Oct 2014

By Fiona Rotherham Oct. 7 (BusinessDesk) - The Reserve Bank of Australia has left the cash rate unchanged at 2.5 percent, as widely expected, though warned about the challenges of a weakening property market in the near term. It has been largely successful in its jawboning attempts to cool what it saw as an overpriced housing market in Sydney and Melbourne with real estate agents reporting declining numbers attending auctions. The RBA had stepped up its warnings about falling house prices as well as suggesting the use of "macroprudential...

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