There was no pre-Christmas goodwill for mortgage holders today, as the Reserve Bank of Australia announced its decision to leave the cash rate unchanged at 4.35%.
The key reasons given for today’s decision can be summarised – or reiterated – in three main points:
- Underlying inflation remains too high.
- The economic outlook remains uncertain.
- Sustainably returning inflation to target is the priority.
Status quo for now, but experts predict a drop in interest rates next year, although we may have to wait until mid-year to see it.
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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 or 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.chamberlainadvocates.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.