Interest Rates Remain At 1.5%

The Reserve Bank of Australia has kept interest rates on hold at its July 2018 board meeting according to the Real Estate Institute of NSW.

REINSW President Leanne Pilkington said the hold pattern remains appropriate in the current climate.

“Global economic forces, the widening wage gap between older and younger working Australians, and outcomes of the banking Royal Commission might all impact the RBA’s outlook in the near term,” she said.

“But for now it’s important that interest rates remain steady,” Ms Pilkington said.

The RBA cut interest rates in by 25 basis points in August and May 2016 and there were no changes to interest rates in 2017.

The RBA board will next meet on Tuesday, 7 August 2018.