Menu
Business

Rate cut looks good for farmers

NFF president Jock Laurie said the reduction in interest rates – the first since April, 2009 – was welcome news for the agricultural sector.
NFF president Jock Laurie said the reduction in interest rates – the first since April, 2009 – was welcome news for the agricultural sector.

THE National Farmers' Federation has welcomed this week's cut of 25 basis points to the national cash rate by the Reserve Bank of Australia.

NFF president Jock Laurie said the reduction in interest rates - the first since April, 2009 - was welcome news for the agricultural sector.

"What we're currently seeing is a very positive outlook for farmers and for agriculture," Mr Laurie said.

"While there are still challenging seasonal conditions facing some parts of the sector, in many ways the current conditions for most are very positive," he said.

"Australian farmers are heavily exposed to interest rate movements, more so than many other sectors due to our large levels of farm debt after a decade of drought and, more recently, natural disasters. (This) cut to 4.5 % means farmers will be better placed to meet their financial obligations."

Topics:  cash rate national farmers' federation rba


Stay Connected

Update your news preferences and get the latest news delivered to your inbox.

Race day to help locked out miners

No Caption

Moranbah race day held to help raise funds for locked out miners.

On the verge of history

Brooks Pleasure, won Race 1 at Callaghan Park.

Brook's Pleasure is making history at Callaghan Park.

Extend Valentine's this year

HAPPY VALENTINES: The Emerald Outside School Hours Care is holding a Valentine's Ball tomorrow night.

Support local organisations through this years' valentine's ball.

Local Partners