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The cash rate decision for June has been announced by the RBA with the rate unchanged at 0.25%.
The Bank withstood calls for further reductions, with some commentators suggesting negative interest rates remain a future possibility.
Whilst the RBA will be mindful of concerns around the rising value of the Australian dollar and its impact on exports, reductions in property prices and uncertainty around employment post JobKeeper, it stuck by its view that a rate of .25% is an appropriate floor.
If the COVID-19 crisis is affecting your financial situation, please get in touch so an AFG broker can formulate a plan to manage your loan repayments during these unprecedented times.
An AFG broker can help review your situation to ensure you have the right loan for your circumstances, by drawing on a wide panel of lenders offering loans with great features, low fees and competitive interest rates.
If you’d like to chat about the best way to manage your mortgage as the COVID-19 crisis continues to unfold, please get in touch with an AFG broker.