As financial markets digest the findings of the Banking Royal Commission, the Reserve Bank of Australia has made its first rate announcement for 2019.
The RBA has decided to leave the official cash rate unchanged at 1.5% for the 27th consecutive time. Here are our thoughts on why they have made this decision.
The RBA continues to balance the worrying parts of the economy – inflation dipping below its target range of 2-3%, falling house prices, a borrowing squeeze in response to the Royal Commission, slow wages growth and negative consumer and small business sentiment with the more positive aspects of strong infrastructure spending, increased export earnings and stable employment figures.
With lenders continuing to review rates independent of the RBA, it is important to review your lending options regularly to ensure they remain the most suitable for your situation.
Don’t forget, we work with multiple lenders helping to keep competition alive and are always available to chat.