RBA Cash Rate Announcement
Today the Reserve Bank of Australia has announced the result of its monthly board meeting.
The official cash rate has been left at a record-low 2.00 per cent, as most experts had forecast.
Low inflation and the high Australian dollar are reasons why the Reserve Bank might further reduce rates in 2015.
However, one reason not to do so would be to avoid further inflating property prices in Sydney and Melbourne – which were cited as one of the major reasons for recent APRA led macro-prudential regulatory moves in the mortgage sector. Similarly, the OECD has issued a statement in favour of the RBA limiting any further rate drops.
At present, Naritas has lenders on its panel that are offering 2 year fixed rates at 3.69%p.a. (CR n/a), 3 year fixed rates under 3.99%p.a (CR n/a) and variable from 3.99%p.a. (CR 4.19%p.a.) – all available with our $1000 refinance rebate. For a snapshot of our most popular lenders and their rates click here.