With celebrations for the race that stops a nation in full swing, I’d like to share today’s rate announcement and the thoughts on why the Reserve Bank of Australia has made this decision.
The RBA has resisted temptation to further lower rates. In making this decision it appears to have taken into account stable unemployment figures, improving commodity prices and concerns about further stimulating the Sydney and Melbourne property prices whilst discounting for the moment, concerns about low inflation.
Even though the official cash rate has remained unchanged, lenders can move their rates independently, so you may see a change to your rate. Of course, one of the many benefits of having me as your mortgage broker onside is I’m very happy to speak to you at any time to ensure you still have the right financial solution for your current circumstances.