As widely anticipated, in the final rate announcement for 2018, the Reserve Bank of Australia has left the official cash rate unchanged at 1.5% for the 28th consecutive time.
The RBA continues to balance the positive parts of the economy including strong infrastructure spending, increased export earnings and 5% unemployment with some of the negative economic indicators such as a turn in the housing cycle, decreased consumer spending, tighter credit conditions, weak wages growth, below target inflation and share market volatility.
With lenders continuing to review rates independently of the RBA, it is important to review your lending options regularly to ensure they remain the most suitable for your situation. There may be different rates available from our wide panel of lenders and I’m always available to ensure you have the right financial solution for your current and future circumstances.
If you’d like to have a chat about what today’s news means for you and your finances, please don’t hesitate to get in touch.