The RBA has opted to leave the official cash rate on hold at 1.5%
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The RBA has opted to leave the official cash rate on hold at 1.5%.
With celebrations for the race that stops a nation in full swing, I’d like to share today’s rate announcement and the thoughts on why the Reserve Bank of Australia has made this decision.
The RBA has resisted temptation to further lower rates. In making this decision it appears to have taken into account stable unemployment figures, improving commodity prices and concerns about further stimulating the Sydney and Melbourne property prices whilst discounting for the moment, concerns about low inflation.
Even though the official cash rate has remained unchanged, lenders can move their rates independently, so you may see a change to your rate. Of course, one of the many benefits of having me as your mortgage broker onside is I’m very happy to speak to you at any time to ensure you still have the right financial solution for your current circumstances.
Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change.