The Reserve Bank of Australia has played it safe again this month, with the Board opting to leave the official cash rate on hold at 2.5 per cent for the 11th consecutive month.
- Consumer sentiment remains fairly sluggish and property values were fairly stagnate in June.
- Confidence climbed just 0.2 per cent in June (Westpac Melbourne Institute of Consumer Sentiment).
- Consumer sentiment remains 6.6 per cent below the pre-Budget level recorded in April and 15.6 per cent below the post-election high recorded in November last year.
- RP Data research found property values climbed by 1.4 per cent in June after suffering a 1.9 per cent drop in May.
Moving forward, we expect the Reserve Bank of Australia to leave the official cash rate on hold for some time yet.
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