At its monthly meeting today, the Reserve Bank has again confirmed the official cash rate will remain at 0.10%.
As the country starts to discuss what post-lockdown life will look like, the focus out of the meeting will be on the RBA’s government bond-buying program.
Prior to last month’s meeting it was anticipated that the bank would defer previously announced reduction plans and maybe even increase bond purchases.
Instead, it surprised the market by standing by its reduction plans.
Rates are at a record low and lenders continue to offer very competitive rates.
If you have any questions about this announcement or interest rates, please feel free to contact us.