The RBA has opted to leave the official cash rate on hold at 1.5%.
After a weekend of football excitement, all eyes were on the Reserve Bank of Australia board meeting today where it was decided to once again leave the official cash rate unchanged for the 14th consecutive month.
With regulatory changes to investor lending appearing to have taken some heat out of the Sydney property market in particular, the RBA continues to take a wait and watch approach due to modest growth and inflation forecasts as well as 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, my role as your mortgage broker remains unchanged. I’m 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.