RBA: October Rate Decision

The RBA has announced its decision for the official cash rate for September.

Cash rate remains on hold.

The Reserve Bank of Australia (RBA) Board have left the cash rate at the 0.10% target rate yet again this month.

Governor Philip Lowe had this to say in his official statement:

“As vaccination rates increase further and restrictions are eased, the economy is expected to bounce back. Many businesses are now planning for the easing of restrictions and confidence has held up reasonably well.”

“Housing prices are continuing to rise, although turnover in some markets has declined following the virus outbreak. Housing credit growth has picked up due to stronger demand for credit by both owner-occupiers and investors.”

Unsure what this means for you? Get in touch with the team at CapStack today and discover if you can be taking advantage of the low interest rates currently available in the market.

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