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Breaking News – August interest rate update

The Reserve Bank of Australia made their announcement today to leave the official cash rate unchanged at 1.5%. It has now been two years since the last cash rate move. We think this is due to a combination of factors including very low wages growth, high underemployment, flattening property prices and home lending and modest inflation. Many experts are predicting it may be some time before we see the next rate movement and it may actually be downwards.

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