The Reserve Bank of Australia has decided to leave the official cash rate unchanged at 1.5% for the 26th consecutive time. It’s now almost eight years since the last increase.
In making this decision the RBA looks to have balanced low unemployment, strong trade figures and increasing business and public sector infrastructure investment against continued low inflation, falling house prices and slow wages growth.
Out of cycle rate increases by many lenders has also taken some of the pressure off the RBA to lift rates.
With lenders increasing rates independently of the RBA, now might be the perfect time to review your lending options to ensure they remain the most suitable for your situation.
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. There may be different rates available from our wide panel of lenders and we’re always here to ensure you have the right financial solution for your current and future circumstances.