Sweet Rates Relief
Illawarra Mercury
Wednesday December 3, 2008
THE Reserve Bank's decision to slash the official cash rate by one percentage point drew a collective sigh of relief from the region's mortgage holders yesterday.
The central bank's move took the cash rate to a seven-year low of 4.25 per cent. The cautiously optimistic reaction of West Wollongong's Shaun Pleace was typical of the feeling in the Illawarra. "The Government is trying to help with cash incentives and petrol prices are coming down, which is good," Mr Pleace said."Before, you would think twice about a family outing when it was costing $70 to $80 to fill the car ... it is more affordable now."? REPORTS: Pages 6-7
© 2008 Illawarra Mercury
