No need for borrowers to look for extra funds this month, with the welcome decision announced by the Reserve Bank to keep interest rates on hold at 4.5 per cent.
In a statement announcing the Board's decision, Governor Glenn Stevens said that with the high level of the terms of trade expected to add to incomes and demand, output growth in Australia over the year ahead is likely to be about trend, even though the effects of earlier expansionary policy measures will be diminishing.
"The current setting of monetary policy is resulting in interest rates to borrowers around their average levels of the past decade", Governor Stevens said.
"Pending further information about international and local conditions for demand and prices, the Board views this setting of monetary policy as appropriate", he concluded.