Interest rates remain unchanged – the worst may be over!

The Reserve Bank left its key interest rate unchanged this month (announced May 4), citing an economic revival in China as cause for hope that the worst may be over.
Official interest rates are at a 49-year low of 3%, where the central bank has moved them in response to the slowing economy.
The RBA has cut 425 basis points from interest rates since September in an effort to blunt the worst effects of the recession.
In that time, repayments on an average $400,000 mortgage have fallen by about $1000 a month as commercial banks passed on most of the RBA's cuts.