The RBA has opted to leave the official cash rate on hold at 1.5%
With spring traditionally a busy time for the real estate market and for rate moves, all eyes were on today’s Reserve Bank of Australia board meeting, where once again it was decided to leave the official cash rate unchanged for the 13th consecutive month.
The RBA avoided the temptation to follow other developed economies and increase rates due to continued concerns around low wages growth and the impact of rising power prices on households.
Regardless of whether rates move up, down or stay the same, your mortgage broker’s role remains unchanged. Your broker is always on hand to ensure you still 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 your broker.