The Reserve Bank of Australia has decided to leave the official cash rate unchanged at 1.5% for the 26th consecutive time. I’d like to share today’s rate announcement and the thoughts on why the Reserve Bank of Australia has made this decision.
In making this decision the RBA looks to have balanced low unemployment, strong trade figures and increasing business and public sector infrastructure investment against continued low economic growth, falling house prices and slow wages growth.
Out of cycle rate increases by many lenders has also taken some of the pressure off the RBA to lift rates.
With lenders increasing rates independently of the RBA, it is important to review your lending options regularly to ensure they remain the most suitable for your situation. There may be different rates available from our wide panel of lenders and I’m always available to ensure you have the right financial solution for your current and future 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.