rba cuts interest rate

RBA keeps interest rate on hold at 0.1%

. As widely expected, RBA Governor Stephen Lowe has confirmed that the cash rate will remain at 0.1%.  He has also stated that the parameters of the Term Funding Facility and the government bond purchasing program will be maintained at current settings. The RBA Governor had some specific statements to make concerning the housing sector:[…]

Calculating mortgage repayments following a rise in the interest rate

Australia’s strengthening dollar could affect fixed-rate mortgage repayments sooner than expected

  In the RBA’s first monetary policy announcement for 2021, it was predicted that the conditions for a rise in the interest rate wouldn’t “be met until 2024 at the earliest”. This statement gave many potential homebuyers added confidence about how much they could afford in terms of mortgage repayments. However, as pointed out by[…]

Cash Interest Rate Maintained at Current Level

The Reserve Bank of Australia (RBA) has maintained the cash interest rate at two percent. During its board meeting today, Reserve Bank Governor Glenn Stevens noted that as the economy is growing at below the long-term averages, their monetary policy needs to be “accommodative.” He added that the board will continue to assess the economic[…]

Interest Rates Put On Hold at 2%

The Reserve Bank of Australia (RBA) has kept the interest rates steady at its record low of two percent. The decision was made in today’s meeting of the bank on monetary policy. This is the third straight month that the rate was maintained at its lowest. RBA Governor Glenn Stevens said that “while the rate[…]