RBA Cash Rate Remains Unchanged At 1.5%

rba cash rate decision

In a decision widely anticipated by economists across the country, the Reserve Bank of Australia (RBA) has announced it will hold the official cash rate at 1.5%. 

The strength in the local housing market over the second half of 2016 as well as a consistent rise in investment activity since rate cuts in May and August of last year are contributing factors to the latest decision, Director of research at CoreLogic Tim Lawless says.

Domestic and global uncertainty may have also played a part in the decision says CEO of Mortgage Choice, John Flavell.

Despite the cash rate remaining on hold and some ‘subtle upwards movements in mortgage rates over recent months’, historically low costs of debt should continue to stimulate demand for housing for both owner occupiers and investors.

Source: propertynews.onthehouse.com.au | brokernews.com.au