Interest rate update – Nothing Changed?
It is indeed interest rate update time and guess what? The RBA has decided to leave the official cash rate unchanged at 1.5% for the 28th consecutive time… I would like to share some thoughts on why the Reserve Bank of Australia has made this decision.
Following its February meeting, the RBA said the case for the next rate move to be a decrease was now almost equal to the case for an increase and also advised that they would continue to watch the economy closely for signs around its key objectives.
These are of course decreasing unemployment and increasing inflation. It will also be watching property markets, particularly in Sydney and Melbourne, very closely as prices continue to fall.
Lenders are continuing to review and change interest rates independently of the RBA so it is very important to review your lending options annually or bi-annually to ensure they remain the most suitable for your bespoke situation.
Did you know that banks are renown for offering new customers cheaper and more competitive rates while making older more ‘loyal’ customer pay higher rates?
With over 40 different lenders we are sure to have a new and improved rate for you!
We have so many lenders on our panel and I’m always available to ensure you have the right financial solution for your current and future circumstances.
Give me a call today so that we can have a chat about what today’s news means for you and your finances. If you would like to email then please enter in your details below!