Interest Rates On Hold at 1.00% for Now

The Reserve Bank of Australia has decided to leave the official cash rate unchanged at 1% as it awaits fresh economic data to allow it to assess the impact of its June and July cuts.

In making this decision not to drop rates again the RBA will have considered some early evidence of an improving housing market following its previous cuts. It will also have considered the impact a reduction in rates would have on the Australian dollar and overseas competitiveness.

In the lead up to its September meeting it will continue to monitor inflation, house prices, wages growth, household consumption and concerns around the unemployment level before making its next decision.

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

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