Official Cash Rate On Hold At 2.5% Since 7 August 2013

Without causing much stir, the Reserve Bank has kept the Official Cash Rate at a record low of 2.5%, after holding their second – last monthly meeting of the year on Melbourne Cup day.

The cash rate has remained at these levels for the past 15 months and experts surveyed by are unanimous in predicting that the rates would remain on hold. This period of stability will encourage high activity in the property market, as sellers would still have enough time to list before the expected market slowdown on Christmas.

Speculations on the next rate hike are divided, with Westpac expecting the increase to happen as late as August next year.

Read more about this on the Smart Property Investment website.