Download Ross Greenwood’s interview with John Symond on 2GB on 07/10/09 where they discuss the Reserve Bank’s lifting of official interest rates by 0.25 percentage points.
Listen to the Interview (MP3)
Aussie founder and executive chairman John Symond discusses the Reserve Bank’s lifting of official interest rates by 0.25 per cent following its October meeting. He tells 2GB’s Ross Greenwood that he was surprised and disappointed by the decision.
“I thought it would have been a few months away before today, but they’ve made the decision and we’ve got to work around it now,” Mr Symond said.
“Certainly the Reserve Bank has been signalling this for several months, and a quarter per cent won’t make that much difference but a series of quarter per cent rises and people will start to feel it.”
Mr Symond said the Reserve Bank have raised rates this month in order to temper the booming housing market, and hopefully halt any potential price bubbles.
“I’ve got no doubt the Reserve bank has done a very good job of signalling its intentions before they have actually pulled the lever,” he said.
“They have tried to change the behaviour of people before they have made the interest rate hike. They have done a very good job of that.”