SA: Business SA welcomes interest rates decision

AAP General News (Australia)
08-04-2004
SA: Business SA welcomes interest rates decision

ADELAIDE, Aug 4 AAP - Business SA today welcomed a decision by the Reserve Bank to
leave official interest rates on hold.

Chief executive Peter Vaughan said the decision was a relief for local companies struggling
with falling profits and rising costs.

"A rise in interest rates would have simply applied more pressure on an already burdened
business community," he said.

"The Reserve Bank board's decision is justifiably cautious.

"There's simply no strong evidence to suggest that a rate rise was warranted."

AAP tjd/sco/bwl

KEYWORD: RATES SA

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