The RBA has decided to once again leave the official cash rate unchanged for the 12th consecutive month.
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The RBA has opted to leave the official cash rate on hold at 1.5%.
At its board meeting today the Reserve Bank of Australia decided to once again leave the official cash rate unchanged for the 12th consecutive month.
The RBA avoided the temptation to follow other developed economies and increase rates, taking into account the impact this would have on the Australian dollar and therefore tourism and other exports. Other factors considered would have been sluggish consumer spending and record low wages growth which have led to lower than desired inflation and fears that housing construction is set to slow.
Regardless of whether rates move up, down or stay the same, my role as your mortgage broker remains unchanged. I’m always on hand to ensure you still have the right financial solution for your current circumstances.
If you’d like to have a chat about what today’s news means for you and your finances, please don’t hesitate to get in touch.
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.