Australian dollar closes at USD$0.92
Tuesday February 19, 2008
The Australian dollar closed at USD$0.9200 today after the release of the minutes from the Reserve Bank of Australia meeting held earlier this month.
The documents show that the central bank had considered a 50 basis point rate rise this month in an effort to curb the rising inflation rate.
The Reserve Bank of Australia board eventually chose to lift the official cash rate by 25 basis points to 7.0 percent.
Home owners repaying a mortgage should be aware that the RBA has warned of further interest rate hikes in the coming months.
The minutes of the meeting on February 5 said,"Additional tightening could be implemented at the March and/or subsequent meetings as judged necessary,"
