Rates on hold for December 2019
Updated: Jun 30, 2020
At its meeting on the 4th December 2019, the Reserve Bank of Australia (RBA) decided to keep the official cash rate unchanged at 0.75%. This is still a historic low rate!
With the official cash rate already reduced three times this year, RBA governor Philip Lowe has been optimistic that we are finally seeing the results of these cuts. “Expectations of further monetary easing have generally been scaled back over the past month and financial market sentiment has improved a little,” Lowe said in November.
The RBA won’t meet in January so we can expect interest rates to remain low for the foreseeable future. This means strong competition among lenders so get in touch with us to arrange pre-approval on your finance! We will also help you review your existing loan to make sure it still fits your needs.