SMALL business is in for a boost following the Reserve Bank’s Decision to cut rates, according to the Chamber of Commerce and Industry Queensland (CCIQ).
CCIQ general manager of advocacy Nick Behrens said the rate cut was just the news Queenslanders needed after the uncertainty surrounding the State Election.
“Queensland businesses continue to report challenging trading conditions with sluggish consumer sales a particular worry,” he said.
“A reduction in interest rates is likely to improve consumer confidence as it will ease the pressure on households to meet home loan repayments.
“Together with lower petrol prices, this will hopefully free up disposable income so consumers can start spending.”
CCIQ Noosa president Sarah Fisher said she agreed and hoped the cut would lead to higher consumer spending locally and a boost to the housing market.
CCIQ Noosa members gathered on Wednesday 10 February at the Noosa Reef Hotel for the monthly networking night to talk business and the economy.
