RBA leaves interest rates on hold

RBA leaves interest rates on hold

REINSW President John Cunningham said the RBA kept interest rates on hold largely as expected.

“The decision to keep interest rates steady came with little surprise. Although interest rates have remained at record lows this month, there is wide speculation that there is room for further interest rate cuts this year,” Mr Cunningham said.

“We are seeing more stock entering the marketplace and consumers are taking advantage of the low interest rates on offer ,” Mr Cunningham said.

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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, 1 November 2016. 

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