Cup Day Meeting Sees Interest Rates Stable

The Reserve Bank of Australia has kept interest rates stable at its November board meeting, according to the Real Estate Institute of NSW.

REINSW President Leanne Pilkington said interest rates remain stalled at 1.50 per cent.

“It is unlikely that there will be any move in interest rates for the time being,” Ms Pilkington said.

“Most punters believe that if current market conditions continue, interest rates will remain as they are until at least the third quarter of 2019,” Ms Pilkington said.

The RBA cut interest rates by 25 basis points two years ago in August 2016 as well as May 2016. There were no changes to interest rates in 2017.

The RBA will next meet on Tuesday, 4 December 2018.