IT’S the first Tuesday of the month and The Reserve Bank of Australia has left interest rates on hold.
The cash rate will be left unchanged at a record low 2.5% for the 15th consecutive month.
Peak retail industry body the Australian Retailers Association (ARA) is hopeful the decision to keep the cash rate on hold will provide enough stability to stimulate pre-Christmas sales as the crucial festive season fast approaches.
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ARA Executive Director Russell Zimmerman said there was talk interest rates may start to rise in 2015.