The Reserve Bank has held interest rates at the record low level of 0.75% this month.
Thanks to the expected increase in consumer spending over Christmas and the New Year, the RBA decided to make no change to interest rates in December.
Reserve Bank Governor Philip Lowe said “Given these effects of lower interest rates and the long and variable lags in the transmission of monetary policy, the Board decided to hold the cash rate steady at this meeting while it continues to monitor developments, including in the labour market,”
“The Board also agreed that due to both global and domestic factors, it was reasonable to expect that an extended period of low interest rates will be required in Australia to reach full employment and achieve the inflation target.”
House prices appear to be the only positive outcome of the recent stimulus measures and we are now on track to reverse the recent 18-month downturn and hit new peaks by March 2020.
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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.