The Reserve Bank of Australia left the cash rate unchanged at a record low of 1.5 percent during the meeting held on September 5th, as widely expected. Policymakers said the Australian economy is expected to pick up gradually over the coming year, supported by improving outlook of non-mining investment, while inflation is estimated to rise as the economy strengthens.
The low level of interest rates is continuing to support the Australian economy. Taking account of the available information, the Reserve Bank Board judged that holding the stance of monetary policy unchanged at this meeting would be consistent with sustainable growth in the economy and achieving the inflation target over time.
There is no better time to take stock of your financial position and structure your current debt to take advantage of the low-interest rate environment.
Carl Thompson – Commercial Lending Specialist, Strategic Investor Group