The Reserve Bank of Australia decided to once again leave the official cash rate unchanged at 1.5% with the last rate move back in August 2016. We’d like to share today’s rate announcement and the thoughts on why the Reserve Bank of Australia has made this decision.
With a combination of job growth slowing from last year’s frenetic pace and stagnant wage growth, the Reserve Bank have signalled that we can expect to see rates remain where they are for now. Many however still expect the next rate move to be an increase with signs of improvement in the economy in the shape of strong internal trade results and improving GDP numbers.
Rates remain constant now but it is important that you are prepared if the next rate is an increase. There may be different rates available from our wide panel of lenders and we’re 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 one of our friendly brokers on 1300 308 225.
For more detailed information about today’s announcement, go to http://www.rba.gov.au/media-releases/2018/mr-18-14.html