Interest Rate Update – July 2016

Cash Rate – No Change

The Reserve Bank of Australia (RBA) has just announced it will maintain the official cash rate at 1.75%.

Notwithstanding the uncertainty surrounding both the Australian election outcome and the aftermath of Brexit the RBA has a preference to await the results of the June quarter inflation figures (due later this month) before considering its next move. The majority of Economists are currently predicting the RBA’s next move to be a reduction to the Cash Rate in August.

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