RBA Leaves Rates On Hold...for a record-breaking 19th consecutive month!
At it’s meeting today the RBA Board once again decided to leave the cash rate at 1.50%. The market expected the cash rate to remain unchanged.
This is the twentieth meeting in a row where the RBA has left the cash rate unchanged. Meaning the longest run in the history of the Bank without moving the rate either up or down. The cash rate last changed in August 2016 when the RBA dropped it from 1.75% to it’s current level.
With the cash rate at historic lows, this continues to flow through to retail rates for home borrowers. Home loan interest rates remain at historic lows and there remains intense competition between lenders to attract new loans.
If you currently have a home loan and haven’t reviewed it in a while then now may be a great time to see if you can get a better deal from another Lender, call us today on 8300 8300.