February 07, 2017
The Reserve Bank of Australia (the RBA) today decided to keep the official cash rate on hold at its record low of 1.50 per cent.
Some of the reasons given by the board are a strong Australian dollar, subdued inflation, and a low gross domestic product (GDP) figure for September 2016 have meant the board is waiting for stronger indications of the country’s economic performance before shifting the rate.
The banks and lenders will consider the RBA's announcement and make their own decision to leave their rates on hold or adjust them.
To discuss the decision further or to review your own interest rates call Brett Mallott on 0422 040 646 at Mortgage Choice Applecross today.