news

RBA signals rates will stay on hold

By Staff Reporter

The Reserve Bank of Australia has confirmed the official cash rate is likely to remain at 2.5 per cent “for some time”.

Board members agreed to leave the cash rate unchanged at the monthly meeting on April 1, despite a “strong” housing market, according to the minutes, which were published last Tuesday.

“At recent meetings, the board had judged that it was prudent to leave the cash rate unchanged and members noted that the cash rate could remain at its current level for some time if the economy was to evolve broadly, as expected,” the minutes said.

“Developments over the past month had not changed that assessment. There had been further signs that low interest rates were supporting domestic activity.”

The board also agreed that housing market conditions remained positive.

“Members noted that dwelling investment had increased moderately in the December quarter with a pick-up in renovation activity, and that the high level of dwelling approvals in recent months foreshadowed a strong expansion in dwelling investment,” it said.

Inflation and unemployment are likely to remain steady for the foreseeable future, according to the board.

Thank you.

Your enquiry has been sent to a local Aussie Mortgage Broker.

We will be in contact with you shortly.
Opps.

error occurred.
Unfortunately Aussie cannot attend to your home loan related enquiry at this stage as you must be a citizen or permanent resident.
Do you need help finding the right loan for your investment?
What Aussie do for you:
  • Give expert mortgage advice to help you find great investment loan deals
  • Help you maximise return by lowering financing costs
  • Save you time and effort by helping with the paperwork
First name
Last name
Location
Mobile Number
Are you an Australian Resident?
promoted stories

Top Suburbs

Highest annual price growth - click a suburb below to view full profile data:
1.
BLUE BAY 49.18%
2.
PAMBULA 43.5%
3.
BERKELEY VALE 42.74%
4.
POINT PIPER 40.52%
5.
NORTH TURRAMURRA 38.12%
RBA signals rates will stay on hold
SPI logo