Record Low Interest Rates To Remain At 2.5% Until September 2015
The Reserve Bank has recently released a statement saying that the Official Cash Rate will remain at record low levels for about a year, after their decision to keep it at 2.5% in their September meeting, increasing the interest rate streak to 13 months.
The RBA cited the decrease of housing loans to 15 basis points as one of the major drivers in keeping the rates at 2.5%, and that forecasted property demand should taper off property price increases in the future. The RBA is also pleased with the current status of the mortgage market, saying that current policies and lending standards have met their expectations.
Read more about this on the Adviser website.