Published on February 6th, 2018
RBA rates on holdAt its first meeting for 2018, the Reserve Bank of Australia (RBA) decided to leave the official cash rate unchanged at 1.5 percent. What does this mean for interest rates?
- With the latest Australian Bureau of Statistics’ consumer price inflation report (CPI) coming in below expectations last week, few analysts think the economy will improve enough to see any interest rate increases from the RBA this year.
- According to some analysts, the RBA won’t increase rates until the inflation rate has gone up quite a bit – probably not until June 2019.
- Some lenders cut rates on their fixed rate owner-occupier loans in January. There were also some very competitive deals released for principal and interest investment loans. Contact us if you’d like to know more.
P.S. It’s the new year! If you’re in the market for a new loan, have had your home loan for a while, or would just like to check your borrowing power and rate, now is a great time to give Elders Home Loans a call to get the ball rolling. If your family, friends and colleagues could benefit from their advice, they’d love to help them too.
Sources: www.rba.gov.au www.abs.gov.au