RBA cash rate unchanged at 1%
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The RBA has decided to leave the official cash rate unchanged at 1% as it continues to assess the impact of its June and July cuts.
In making this decision not to drop rates again the RBA will have considered emerging evidence of an improving housing market, supported by strong auction clearance rates in Sydney & Melbourne.
In the lead up to its October meeting there will be a strong focus on economic growth with fears that data due out tomorrow will show that expansion in the Australian economy is at its weakest point since the GFC.
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If you’d like to have a chat about what today’s news means for you and your finances, please don’t hesitate to get in touch with me.
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.