RBA Announcement – November 2014
Amidst the frenzy of today’s Melbourne Cup, we have the latest cash rate announcement hot off the press. The Reserve Bank of Australia has today decided to leave the official cash rate unchanged at 2.5%.
There was some debate as to whether rates would change as result of the tenth meeting of the year. Australian consumer confidence has taken a cut since this time last year, a factor taken into consideration by the Reserve Bank in their decision to leave the rate unchanged, aiming to stimulate growth in the Australian economy. This latest announcement leaving the cash rate stable at 2.5% sees the cash rate at a record low level for fifteen consecutive months.
Even though the cash rate has remained unchanged, there are still daily changes in the finance market as a result of increasingly intense competition amongst lenders. So, it’s still wise for us to talk if we haven’t spoken in a while to ensure you’re still in the right finance solution.
Get in touch today to make sure you are taking advantage of daily changes in the increasingly competitive mortgage market.
Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change.