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The Reserve Bank has kept interest rates on hold at 2% for the third month in a row.

Rates are continuing to be at their lowest in many years, it was only September 2008 when the Reserve Bank cash rate was over 7% let alone the heady days of the early 1990’s when the rate was over 17%.

Banking and Financial experts believe that the cash rates will stay as it is in the foreseeable future as the RBA is concerned about the overheated house market in the major capital cities especially Melbourne and Sydney.

The RBA is pleased with the figures from the retails sector for the June quarter which is up from last year’s figures and the Australian dollar is stabilising at around USD.70 – .75 which is where the economists forecast it to be at most efficient.

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