- May 8, 2019
- Posted by: Rogers Property Group
- Categories: Australian Property Market, Financial Planning, International Property Market, Latest News
Once again for the longest stretch in history the RBA has kept rates on hold. The cash rate remains unchanged at 1.5%
The Australian economy is doing well record low unemployment and job vacancies remain high however inflation has remained subdued and this means that there has not been a lot of wage growth. It is happening albeit slowly.
The Sydney and Melbourne property markets are continuing to struggle which will also be playing on the minds of the RBA board. An interest rate rise could send those markets down even further.
Not only is Australia doing well. So are the other developed countries around the world with high employment and wage growth, albeit slow as well.
Most economists are anticipating a drop in rates by the end of the year. Lending rates are extremely low at the moment and there are also some very attractive fixed rates and interest only terms.