The RBA confirmed today that it will be keeping the cash rate on hold at 10 basis points. The Board restated its position on keeping the rate at its current level “until actual inflation is sustainably within the 2 to 3 per cent target range [which is not expected to occur] until 2024 at the earliest”.
The RBA acknowledged the renewed strength of housing markets across Australia, also noting that “housing credit growth to owner-occupiers has picked up, with strong demand from first home buyers”. The Board stated that it will be “monitoring trends in housing borrowing carefully and it is important lending standards are maintained”.
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By Wendy Chamberlain
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With a passion for all things real estate spanning 20 years, Wendy loves that her role as a Buyers 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.