The Reserve Bank of Australia today decided to keep the official cash rate on hold. The Board decided to keep the cash rate unchanged at 2.75%, for the second consecutive month.
With confidence creeping back into the housing market and signs that the appetite for borrowing in the household sector is picking up, the central bank is confident with the current position of the Australian economy.
Lenders are yet to respond to today’s decision by the Reserve Bank. Over the next few days we will find out if any lenders will adjust rates as a result.
If you have questions about your current circumstances, or today’s RBA announcement, please get in contact today.
Plus, it’s the new financial year, and now is a great time to step back, review your loan and look at what you want to achieve financially in the year ahead. If you would like a health check of your loan, please get in touch.
