The Reserve Bank of Australia has made its latest call on the official cash rate.
Leading economists are now predicting that rates will move faster than the RBA’s lower for longer forecasts, with those who want to lock in record-low rates urged to act before it’s too late.
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The Reserve Bank of Australia has made its first call on the official cash rate for this year, following its decision to cut the rate to a historic low in November.
Owner-occupiers who are paying principal and interest on their mortgage are being rewarded by the financial institutions with a lower interest rate.
The Reserve Bank of Australia (RBA) has announced its decision on the official cash rate for July amid speculation the central bank has reached the lower bound.
official interest rates to a new record low of 1.5 per cent
At its May board meeting today, the Reserve Bank of Australia has decided to cut the official cash rate to a record low of 1.75 per cent!
The Reserve Bank has again decided to leave official interest rates at the record low of 2.0 percent. Rates have now been on hold for nine consecutive months following the last decrease in May last year.