Article: Retailers hit hard by rate rise.(interest rates)(Brief Article)

May 04, 2005 (Herald Sun - ABIX via COMTEX)

Australian retailers were affected by the rise in interest rates in March 2005. The interest rate rise reduced the average household budget by $A32. The Australian Bureau of Statistics reported that consumer spending hardly rose in March. In Victoria, consumer spending fell by 0.2 per cent. The only states where spending rose were New South Wales and Queensland, with rises of 0.4 per cent and 0.2 per cent. Interest rates were not raised in May.

Publication Date: 5 May 2005

 
RESERVE BANK OF AUSTRALIA: 
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