The Reserve Bank of Australia has decided to leave the official cash rate unchanged at 1% as it awaits fresh economic data to allow it to assess the impact of its June and July cuts. In making this decision not to drop rates again the RBA will have considered some early evidence of an improving housing market following its previous cuts. It will also have considered the impact a reduction in rates would have on the Australian dollar and overseas competitiveness.
We appreciate your feedback, that’s why each month we give our customers who have recently settled a loan the chance to go in the competition to win a small thank you gift. This month’s winner is Taylor, and he’s won a $500 Bunnings voucher. Congratulations Taylor!