The Reserve Bank announced today, that the official cash rate will remain on hold at 1.5 per cent. It is anticipated that over the coming months interest rate rises is on the move. It is likely that the scorch in the housing market is one of the major reasons why the cash rate has not declined. Reason being, it may be an attempt to promote expenditure and thrust inflation to a higher level. Borrowers, meanwhile, should anticipate interest rate increases by the major banks regardless of the official cash rate.
C08 100 Overton Road WILLIAMS LANDING VIC