Official cash rate unchanged at 1.5% as decided by the RBA
The Reserve Bank of Australia decided to once again leave the official cash rate unchanged at 1.5% with the last rate move back in August 2016.
With a combination of job growth slowing from last year’s frenetic pace and stagnant wage growth, the Reserve Bank have signalled that we can expect to see rates remain where they are for now. Many however still expect the next rate move to be an increase with signs of improvement in the economy in the shape of strong internal trade results and improving GDP numbers.
Even when rates are unchanged, the role of your broker remains the same. There may be different rates available from our lenders, so your broker is always on hand to ensure you have the right financial solution for your current circumstances.
If you’d like to have a chat about what today’s news means for you and your finances, please don’t hesitate to get in touch with an AFG broker.