RBA fails to deliver Cup Day winner

RBA fails to deliver Cup Day winner

The Reserve Bank of Australia has kept interest rates steady at 1.50 per cent at its Melbourne Cup Day board meeting.

REINSW President John Cunningham said the RBA didn’t deliver a winner to mortgage holders.

“As expected the RBA made the decision to keep interest rates at the record low of 1.50 per cent at its second last board meeting of the year,” Mr Cunningham said.


“We have seen a strong start to spring season auctions and expect volumes to lift slightly over the coming weeks,” Mr Cunningham said.

The official cash rate has fallen 325 basis points since the downward trend commenced in November 2011 and twice in 2016, in August and May.

The RBA will next meet on Tuesday, 6 December 2016. 

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