RBA leaves rates on hold for May

May 06, 2014
Jason Coviello

The Reserve Bank has left the official cash rate on hold for the ninth consecutive month in a row at the historically low level of 2.50%


A weaker than expected rise in consumer prices combined with strong unemployment data are the reasons behind the decision


The evidence suggests the economy is in good shape


The latest data from the Australian Bureau of Statistics found the headline inflation rate rose by 0.6% over the first quarter of the year, slightly less than economists predicted.


According to the Australian Bureau of Statistics, the unemployment rate dropped 0.2% in March to sit at 5.8%.


Property prices also continued to climb moderately across Australia.


Research by RP Data shows capital city dwelling values rose 2.3% during March, contributing to 3.5% capital gain over the first quarter of the year.


This is great news for Perth home owners and investors


Positive economic data and low interest rates present a great opportunity for existing Perth home owners or investors, and first home buyers looking to get into the market.


Review your options


If you want to find out more about your options, feel free to call Peter Hale at Mortgage Choice in North Perth on 0402 252 150 or email peter.hale@mortgagechoice.com.au


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Posted in: Interest rates

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