August Interest Rates Remain Unchanged at 0.10%

As anticipated the Reserve Bank board maintained the official cash rate at 0.10% today
Despite the economic handbrake from the latest round of COVID-19 lockdowns, some economists are speculating that the RBA has underestimated the strength of the economic recovery, leading to predications that rates will start to increase towards the end of 2022.
RBA governor Phillip Lowe is scheduled to hold a Q&A session following today’s meeting which is expected to shed more light on the central bank’s thoughts on the direction of monetary policy.
Interest Rates are at a record low and lenders continue to offer very competitive rates. we have been noticing a slight increase in fixed rate loans, however, they remain very low compared to historical values.

If you have any questions about this announcement or interest rates, please feel free to contact us.

To view interest only repayments you can calculate these by using one of our mortgage calculators or commercial loan calculator.

For more information regarding residential home loans, investment and commercial loans please visit Smart Search Finance.


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