With the Reserve Bank due to meet tomorrow, economists are predicting the cash rate will remain unchanged in February at 2.0%, and is likely to stay on hold for months to come. In fact, with inflation low and a forcast to stay subdued, there is scope for the RBA to cut rates further.
"We expect low inflation to drive a further cash rate cut in quarter two, unless the Australian Dollar sees a tangible fall before then," HSBC Chief Economist Mr Paul Bloxham said.
This is postive news for current and potential home owners alike. With competition rife across lenders, now is the perfect time to look at your refinance options or take advantage of new home loan rates on offer.
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