The RBA has elected to hold off from making any change to the cash rate change in July. The current cash rate stays at 1.75%.
‘The Reserve Bank of Australia announced the cash rate would remain unchanged. The Federal Election and the Brexit Vote would definitely be contributing to a cautionary hold’, Aviser’s Martin Ryan says. ‘Other factors which tip a rate cut such as a struggling property market and low jobs were not evident, but Glen Stephens, Governor of the RBA, may have been setting the scene for another rate cut soon,’ Martin explains. ‘We’d like to guide you through the reactions of the lenders to ensure that your lending is optimal for you and yours.’ If you aspire to take advantage of the current environment – whether you are looking to buy or already have some lending – contact us at Aviser Finance.