RBA Rates: Remain at 2.0 per cent
The Reserve Bank of Australia met on the 1st March for its quarterly meeting and decided to keep the official cash rate on hold at 2.0 per cent.
Forecasters widely predicted today’s decision, however many are speculating that a rate cut is on the cards during the first half of 2016. The RBA has previously indicated that the outlook on inflation may leave some scope for further easing of monetary policy, at some point.
Lenders have been moving on rates outside of the RBA cash rate movements. There have been some interest rate increases, particularly for commercial property purchasers and residential property investors. However, conditions remain good for first home buyers and those in the market to refinance. And there are particularly good deals available for those looking to switch to a fixed rate.
Source: Craig Forman, Cane Financial 1st December 2015 and www.rba.gov.
