| The lowering of the official cash rate from 3.25 to 3 per cent in early December was partly inspired by a belief that the mining boom in Australia is beginning to plateau, according to the Reserve Bank of Australia (RBA).
According to the Central Bank, short-term investment outlook outside of the resources sector is soft enough to prompt supportive measures on interest rates. RBA governor Glenn Stevens forecasts a gap in growth in 2013 if sectors away from mining do not see improvement...............................................Full Article: Source |