At its meeting today, the Board decided to leave the cash rate unchanged at 3.0 per cent.
The RBA is watching Europe's economy closely, China is stabilising and recent data is showing positive signs for the property market. So it's no surprise this is the third consecutive month of steady interest rate setting by the Reserve Bank.
Housing markets have been a beneficiary of low interest rates this year with forward indicators such as auction clearance rates clearly ahead of last year results.
We should all be feeling the effects of the recent rate reductions by now and economists are saying there is one more reduction before an increase at the end of the year.
So enjoy the low rates whilst they’re still here, or better still consider fixing part or all of your loan in order to prolong this great low interest period. Find out how here
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