The RBA has opted to leave the official cash rate on hold at 1.5%.
With the new year underway, we’ve come to the first rate news for 2017. I’d like to share today’s rate announcement and the thoughts on why the Reserve Bank of Australia has made this decision.
As widely predicted the RBA has kept rates on hold as it continues to look for the balance between containing house price growth and managing below target inflation levels, record low wages growth and slow economic growth.
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.