Rates stay at record low as home values start to soar

The Reserve Bank is holding firm and reiterated that it does not anticipate hiking interest rates until 2024, as analysts suggest that Australia’s rising house prices may force the central bank’s hand sooner than anticipated.

RBA governor Philip Lowe today said the RBA was committed to keeping the official cash rate at its record low of 0.1 per cent until its goals around inflation and wages growth are achieved.

“This will require significant g…