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    RBA leaves interest rates unchanged, decision adds to uncertainty: HIA

    Housing Industry Association

    The Housing Industry Association , the voice of Australia’s residential building industry, reports that the RBA has left its key interest rate unchanged at 2.25 per cent at its April meeting.

    HIA Chief Economist, Harley Dale observes that the Reserve Bank has clearly signalled its intent to undertake a further interest rate cut, and should therefore just get on with it.

    Noting that the national new housing construction cycle is a highlight in an otherwise sombre environment for domestic demand, Harley Dale said that two rate cuts in quick succession would bolster the strength in new home building and assist in generating momentum elsewhere in the economy.

    However, Harley Dale believes that interest rate cuts are no panacea for improving Australia’s economic health. He added that Governments need to step up to the economic reform plate, starting with housing policy reform.

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