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.
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