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The RBA has opted to leave the official cash rate on hold at 1.5%

Wednesday, July 5th, 2017

With the kick off of the new financial year, at its board meeting today the Reserve Bank of Australia decided to leave the official cash rate unchanged.

The RBA continued its wait and see approach taking into account the latest edition of mixed economic data – including the fact that unemployment has remained steady at 5.7%, while underemployment remains high and real wage growth is low. The decision may also be due to an expectation that future growth forecasts will remain modest, inflation is forecast at the lower end of the RBA’s target range, and signs that housing markets in Sydney and Melbourne may be slowing.

Regardless of whether rates move up, down or stay the same, my role as your mortgage broker remains unchanged. I’m always on hand to ensure you still have the right financial solution for your current circumstances.

Aaron, if you’d like to have a chat about what today’s news means for you and your finances, please don’t hesitate to get in touch.

Kind Regards,
Lynne, Aron and Jo
Aussie Mortgage Masters

Author: Lynne Cox

She is a Mortgage Broker and holds an Australian Credit Licence # 365386. She has been involved in the Mortgage Broking Industry since May 1996 but has been involved in small business since 1977. Lynne is a licensed finance broker. She was the President of the Finance Brokers Association of Australia until March 2004 where she is now a Life Member, and she was also a Member of the Finance Brokers Supervisory Board until it disbanded in October 2003.