March 07, 2017
In what was a widely-anticipated result, the Reserve Bank of Australia (RBA) today decided to keep the official cash rate on hold at its record low of 1.50 per cent.
Some of those reasons are the RBA now is more concerned at future risks of increased household debt from lower rates than any, likely small, benefit to broader economic activity of lower rates and there is still “too much exuberance” in the housing market for the RBA to cut rates.
The banks and lenders will consider the RBA's announcement and make their own decision to leave their rates on hold or adjust them.
Call Brett Mallott today on 0422 040 646 to discuss further.