Interest rate inertia brings comfort, concern and hope to retail groups

UnderCurrent was confused about whether the Reserve Bank’s decision to keep interest rates on hold was good or bad news for retailers? Let’s ask the interest groups!

First up was the National Retail Association (NRA), which welcomed the decision, saying it “offered hope of continued growth for the retail sector”.

Next to reply was the Australian Retailers Association (ARA), which expected the decision but was unhappy there was no decrease, saying it “concerned retailers and consumers, who are nervous about the Federal Budget announcement next Tuesday”.

Then came the Australian National Retailers Association (ANRA), which was comforted by the decision, saying “there is no need to for the RBA to rush rate hikes”.

At the very least, UnderCurrent is impressed that these groups can significantly differ in outlook, if not initials.