RBA signs off 2018 with no change - interest rate remains at 1.50%
December 2018: RBA Cash Rate Decision Announced
On Tuesday Dec 4th, at its final meeting for the year, the Reserve Bank of Australia decided to once again keep the interest rate on hold. It remains at a record low 1.50%pa, with no sign of moving in the near future. In fact, the bank does not meet in January, so it will be another two months before we have an idea what 2019 might hold for the official cash rate.
It’s been quite a year for mortgage holders and people looking to get into the market. The Royal Commission into the Banking Sector was the most significant event, with lenders now tightening their lending criteria. This may send shockwaves in some circles, but for most Australians it simply means ensuring their finances are in order.
This is best practice for everyone. So, once the silly season passes its peak and your mind turns to New Years resolutions, it’s wise to ensure your finances are on the list.
Is 2019 the year you:
Consolidate your debt? You can renegotiate your to include other debts.
Find a better mortgage? Chat to us to determine whethre there are better options out there.
Find an investment property? Next year will be the ideal time to purchase property.
Buy your first home? With prices steadying, it could be within your reach.
Buy and sell? Whether you’re upscaling or downscaling, the 2019 property market is set to offer many opportunities.
Why not make the first step and book an appointment with us before the holiday season? That way, you’ll be ready to take on the new year right from the beginning.
Click here to read the official statement by Philip Lowe, Governor RBA.
We wish you all the very best for the holiday season. Until 2019,
Get in touch with us today if you'd like to know more.
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