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RBA decides on interest rates, 1 September 2009

Home owners have been given a lucky reprieve today, with interest rates remaining unchanged after the Reserve Bank Board met.

"There have been strong signals from the Reserve Bank that they are prepared to raise rates in line with a strengthening economy - so be prepared for hikes in the future," says Domain.com.au blogger and property author Alex Brooks.

"RBA Governor Glenn Stevens has made it clear in two public speeches in the last month that he is not prepared to allow interest rates to remain at stimulatory lows of 3.00% when the economy seems to have escaped from what was thought to be a disastrous recession.

Rising house prices and improving business confidence show the Australian economy has more resilience than others around the globe," Brooks says.

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