RBA leaves cash rate on hold... again

June 8, 2018

Just in case you missed it, on Tuesday 5th June 2018 the RBA met as per usual and left the cash rate unchanged at 1.50 per cent. This means a record of 22 months with no change!

Here is a snippet of what they had to say:

"The Australian dollar remains within the range that it has been in over the past two years. An appreciating exchange rate would be expected to result in a slower pick-up in economic activity and inflation than currently forecast.

The housing markets in Sydney and Melbourne have slowed. Nationwide measures of housing prices are little changed over the past six months, with prices having recorded falls in some areas. Housing credit growth has slowed over the past year, especially to investors. APRA's supervisory measures and tighter credit standards have been helpful in containing the build-up of risk in household balance sheets, although the level of household debt remains high. While there may be some further tightening of lending standards, the average mortgage interest rate on outstanding loans is continuing to decline."

Read the full media release here: http://www.rba.gov.au/media-releases/2018/mr-18-14.html