November Interest Rate Decision

November 2, 2017 3:29 pm

The Reserve Bank of Australia (RBA) made its monthly announcement on the same day as Australia’s favourite horse race, the Melbourne Cup, but what
was the verdict? The RBA have kept the Official Cash Rate on hold at 1.5 percent. This was based on:

• Housing prices escalating, but mortgage rates and property turnover is lower

• Australia’s unemployment rate is holding steady

• Underemployment is rising

• Inflation remains low