RBA Holds Interest Rates Steady

Posted on April 3rd, 2013 · Posted in News

The Reserve Bank has kept interest rates on hold this month but has not ruled out further rate cuts if the economy hits turbulence.  The RBA’s decision means the cash rate has remained at 3%, a historical low since the last 25 basis points cut in December.

‘‘At today’s meeting, the Board judged that it was prudent to leave the cash rate unchanged,’’ RBA Governor Glenn Stevens said in a statment.  ‘‘The inflation outlook, as assessed at present, would afford scope to ease policy further, should that be necessary to support demand.’’  Mr Stevens added that the rates easing cycle appeared to have ‘‘an expansionary effect on the economy’’ and that ‘‘further such effects can be expected to emerge over time’’.

Have you reviewed your home loan recently?  Do you know if it is still competitive with the current rates & offers available? Considering this is the third consecutive month that interest rates have been left on hold, it may be a good time to fix your rate.  Speak to us today to complete a free finance review & help you strengthen your financial future.