RBA No Change
The RBA has decided to leave the official cash rate unchanged at 1% as it continues to assess the impact of its June and July cuts.
In making this decision not to drop rates again, the RBA will have considered emerging evidence of an improving housing market, supported by strong auction clearance rates in Sydney & Melbourne.
In the lead up to its October meeting, there will be a strong focus on economic growth with fears that data will show that expansion in the Australian economy is at its weakest point since the GFC.
Lenders continue to review rates independently of the RBA with some making reductions. It is therefore important to review your lending options to ensure they remain the most suitable for your situation.
There may be different rates available from our wide panel of lenders and I’m always available to ensure you have the right financial solution for your current and future circumstances.
If you’d like to have a chat about what today’s news means for you and your finances, please don’t hesitate to get in touch with us.