May Interest Rate Decision

May 3, 2017 3:25 pm

Rates on Hold for Nine Months Straight

Flat wage and inflation growth, poor consumer spending and independent bank rate rises forced the Reserve to leave rates on hold. However, economists say
to expect an increase in jobs during 2017, which will boost wages, inflation and spending. Financial advisors, on the other hand, indicate that consumers
fearful of rate rises should plan ahead now. This strategy will allow them to cope with any increased mortgage costs despite minimal wage growth.