In an unsurprising move, the Reserve Bank of Australia has kept the official cash rate on hold at 1.5% in November and indicated that there will be no change for some time to come.
The ongoing strength of the Aussie dollar, high levels of household debt and weak wages growth were all key factors; factors which aren’t expected to change any time soon. The bank also appears to be uninfluenced by other central banks around the world lifting their official rates tightening of lending rules imposed by regulators.
Despite the cash rate remaining steady, the changing regulatory environment for home lending should prompt savvy borrowers to review their home loan(s) with a free home loan health check.
One hour of your time with your Aussie Broker might be the first step in setting you up for a great 2018.