by Staff
The Reserve Bank of Australia has decided to keep the official cash rate on hold at 2.5 per cent at its meeting today. This is consistent with the RBA's statement last month that a period of interest rate stability is in order.
The RBA's decision is great news for homeowners and property buyers across the country as we can expect the current low interest rate environment to continue for some time. According to the RBA's Financial Stability Review, many Australians are taking advantage of the low interest rates to get themselves as much as 24 months ahead on their mortgage repayments!
One of the factors influencing the RBA to keep cash rates at these historically low levels is the high Australian dollar, which is impacting our export markets and hindering general economic recovery.
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Interest Rate on Hold
