The Reserve Bank of Australia has retained the official cash interest rate at its lowest level of 0.25 percent. The decision was widely expected by analysts and economists.
Currently, the Australian economy is experiencing a very difficult period, with the biggest contraction since the 1930s. Since March, over 800,000 people have lost jobs, with many more on reduced hours or under employed.
Additionally, much of Victoria was placed into Stage 3 Lockdown today as the COVID-19 situation in metropolitan Melbourne worsens.
The RBA Board is doing what it can to support incomes, businesses and jobs and set Australia up for the recovery when that time comes.
Looking to buy in Melbourne and not sure what your next steps are in such uncertain times? Talk to me about how I can help you buy your new home faster, for less.
Give me a call on 03 9686 2288 to discuss how I can help. I offer a free consultation, so why not call today?
By Wendy Chamberlain
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With a passion for all things real estate spanning over 20 years, Wendy loves that her role as a Buyers Agent and Sellers Advocate gives her buying and selling clients an experienced voice they can trust when it comes to negotiating to buy or sell something as important as their home or investment. Wendy considers it a privilege to be asked to help others realise such an important goal as home ownership and to be trusted with that honour. Get in touch today via www.wendychamberlain.com.au for a no obligation chat about how Wendy can work with you and help you save time and money to secure your new home sooner.