Rates on hold as RBA keeps close eye on international issues

July 14, 2015
Wayne Smith

Strong property price growth in Sydney and Melbourne combined with growing problems abroad has encouraged the Reserve Bank of Australia to err on the side of caution and leave the cash rate on hold at 2% for the second consecutive month.

Recent research conducted by RP Data shows property values rose significantly in both Sydney and Melbourne throughout the month of June, with prices rising by 2.8% and 2.9% respectively.

  • If rates were cut, property prices could climb even further – something the Reserve Bank is keen to avoid.
  • also, the ongoing turmoil in Greece has caused the Australian share market and dollar to plummet.

With rates sitting at historical lows, now is a great time to consider your home loan options.

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Posted in: Interest rates

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