RBA Holds Rates At 1.5%

As many experts predicted, board members have opted to hold the official cash rate at its record low of 1.50 per cent.

In a unanimous result and as we predicted all 38 economists and experts in the Reserve Bank survey tipped this month be continue to hold rates at 1.5%.

The RBA decided to hold rates given the recent soft inflation figures and the Australian dollar as the reason and a further explanation on the ‘wait and see’ approach.

We’re still tipping a further rate drop by 0.25% before the end of this calendar year, however time will tell. The option looming is should we fix in now or remain at the variable rate? Personally this does depend on your overall strategy and there are some fantastic fixed rate options, however best consult with an advisor first.

Anyway that’s the quick update on this months RBA movement over 38 plus lenders on our panel with rates starting from as low as 3.75% with a comparison rate of 3.88% owner occupied and 3.99% investment interest only.

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