Cash Rate up 25 basis points

The RBA's decision was to put the Cash Rate of 3.5 up 25 basis points to 3.75 today as the global economy resumes growth and is expected to continue over the nexts year. With most major countries also seeing econonmic growth the decision to raise the cash rate was not unexspected but is it realy needed this early in the economic recovery.

The banks will match this rise from the RBA with some banks passing on a .40 rise in their variable home loan rates.

Lets hope at the next meeting the RBA keeps the cash rate where it is, and let the economy recover for a little longer first.