On Melbourne Cup day the RBA voted again to keep interest rates stable with the cash rate remaining at 2.00%. At this stage, while commenting that moderate expansion in the economy is evident, they have left the window open for a further easing of interest rates if inflation starts to increase in coming months.
You can read the full statement from the RBA here.
Given that many big banks have already increased interest rates prior to this announcement, the next few months will be interesting to watch to see how all lenders react to a further rate cut if it happens.
In the meantime, while rates are at historical lows, if you wish to consider locking in your home or investment loans with a fixed rate loan, please feel free to contact us on (07) 3376 1005 for a professional chat about your personal situation.