August 01, 2017
After analysing all of the domestic and global economic data, the RBA has once again decided to leave the official cash rate on hold at the historically low setting of 1.5%. According to the Board, the Australian economy is tracking along “nicely” at the moment, with property prices tracking higher across most markets and unemployment continuing to hover around record lows. In addition, business conditions remain relatively strong by historical standards. But while business confidence and employment opportunities are robust, wage growth remains low and is likely to stay this way for a while yet. The RBA will continue to keep a close eye on these economic factors as it makes its future cash rate decisions. Are you questioning how the cash rate decision will impact you or has your lender recently increased the interest rate on your home loan? Regardless of your property ambitions your local broker can help.