Reserve Bank Interest Rates On Hold

Interest Rates on Hold
With the Federal Government proposing significant cuts in its upcoming budget, the Reserve Bank of Australia (RBA) has decided to keep the official cash rate on hold at 2.5 per cent at its May meeting today. The RBA has kept the cash rate on hold since last August, maintaining a period of interest rate stability.

This is good news for property buyers and homeowners, who are taking advantage of low interest rates to get ahead. There has been a lot of activity in property markets across the country, with high auction clearance rates a feature during the busy autumn selling season and investors leading the way amongst buyers.

One of the major factors influencing the RBA to keep the cash rate unchanged at its historically low level is the high Australian dollar, which is impacting our export markets and general economic recovery. Analysts agree that we can expect interest rates to remain low as long as this situation continues.

In light of the low interest rate environment, there is a lot of competition in the loan market. Lenders are offering some great deals to those looking to purchase their first home, invest or refinance. To find out more about how the low interest rates could help you get ahead, give us a call at A Grade Tax Penrith to arrange an obligation free appointment in the comfort of your own home with our mobile finance broker.

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