As the nation stops to enjoy today’s Melbourne Cup, the only sure bet of the day was that the Reserve Bank of Australia would leave the official cash rate unchanged at 1.5% for the 27th consecutive time.
Rates remain on hold while the RBA assesses domestic factors including slow economic growth, falling house prices and low wages growth in parallel with global stock market falls resulting from concerns about a possible trade war between the USA & China.
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 an AFG broker is 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 with an AFG broker.