Interest Rates On Hold For June 2016

As expected the Reserve Bank of Australia has today announced that it has decided to keep the cash rate on hold at 1.75%. The economy has shown some signs of growth and it is expected that inflation is tracking to exceptions.

Although the economy is showing positive signs, most economists are predicting another rate cut in August.

We expect that most lenders will leave their variable interest rates unchanged but we will continue to monitor lenders for rate changes outside the official rate.

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

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