The RBA has left interest rates unchanged, providing relief for borrowers and retailers in the crucial shopping weeks before Christmas.The RBA keep at 4.75. What is the interest rate? Base on Wikipedia An interest rate is the rate at which interest is paid by a borrower for the use of money that they borrow from a lender. For example, a small company borrows capital from a bank to buy new assets for their business, and in return the lender receives interest at a predetermined interest rate for deferring the use of funds and instead lending it to the borrower. Interests rates are fundamental to a capitalist society. Interest rates are normally expressed as a percentage rate over the period of one year.
Interest rates targets are also a vital tool of monetary policy and are taken into account when dealing with variables like investment, inflation, and unemployment.
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