RBA keeps interest rate on hold at 0.1%

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The RBA has decided to maintain the official interest rate at the record low of 0.1%.

rba cuts interest rate

The RBA Governor Stephen Lowe’s latest media release emphasises that “financial conditions remain highly accommodative, with lending rates for most borrowers at record lows and asset prices, including housing prices, mostly increasing”.

Furthermore, the RBA forecasts that Australia’s recovery from the pandemic “is expected to continue, with the central scenario being for GDP to grow by 3½ percent over both 2021 and 2022”.  The Governor has also stated that the conditions necessary for an increase to the cash rate will not “be met until 2024 at the earliest”.

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?

Wendy Chamberlain from Chamberlain Property Advocates

 

 

 

 

By Wendy Chamberlain
Copyright 2021 | All Rights Reserved

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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.