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 ANZ's Head of Australian Economics David Plank in this …
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 outlook. This record low interest rate has been kept …
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