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Official cash rate unchanged at 1.5% for the 27th consecutive time

Posted by Akila Liyanage on December 4, 2018
| 0

As the holiday season rapidly approaches, the Reserve Bank of Australia (RBA) met today (4/12/2018) for its final meeting of 2018. As expected, they have elected to keep the official cash rate on hold at 1.5%, where it will remain until their next meeting in February 2019.

RBA interest rate

This is the 27th meeting in a row where the RBA has left rates unchanged. Comments from the RBA last month indicated they would wait to review this quarter’s economic data before considering a rate adjustment, and it seems likely that it will be some time away. Meanwhile, home values and auction clearance rates continue to slide in most markets – it could be a great time to grab a bargain if you’re looking to buy or build a home.

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