Cash Rate – No change
The Reserve Bank of Australia (RBA) has just announced it will maintain the official cash rate at 1.50%.
Wage growth remains low and the RBA is predicting this is likely to continue for some time, notwithstanding stronger conditions in the labour market. The housing market in Australia continues to vary across the country although there are signs of the heat dissipating in many areas influenced by the increase in supply of property combined with the general tightening of lending policies by Australian Lenders. The Australian dollar has been largely unchanged over the month despite recent weakness in commodity prices.
We will monitor the above economic factors but at this stage we are confident the RBA will make no change to the cash rate until well into 2018.
For more information, or if you would like a free review of your residential, commercial or SMSF loans against other competitive products in the market please contact Peter, David or Simon via this email, our phone: (03) 9882 2500, or visit www.firstpointgroup.com.au