Cash rate for May remains unchanged at 0.1%

Reserve bank of australia sign

The RBA held its monthly board meeting today and as expected, maintained the cash rate at 0.10%.

As a sign the economy is growing at a healthy but controlled pace, the RBA is heavily focused on restoring inflation to within its 2-3% target range.

The recently released March quarter consumer price index data shows the annual inflation rate at just 1.1%, reaffirming we are unlikely to see an interest rate rise for some time.

Rates are at a record low and lenders continue to offer very competitive rates.

An AFG broker can answer your questions and look at your circumstances to make sure you’re prepared for what could be coming next. This could mean refinancing or approaching your lender for a better rate. Because an AFG broker does this type of work every day, they have a pretty good idea what lenders can do to win or keep your business.

We’re here to help if you have any questions. Please don’t hesitate to get in touch with an AFG broker.