RBA rules on August cash rate By Staff Reporter SHARE THIS ARTICLE
The Reserve Bank of Australia (RBA) has revealed its decision on the August 2021 cash rate, as governments grapple to minimise the economic fallout caused by the COVID-19 Delta strain.
Continuing the recent record-low run, the official cash rate will once again remain at 0.1 of a percentage point.
CreditorWatch chief economist Harley Dale has weighed in on the central bank’s latest decision, stating it “comes as no surprise” as Australia contends with the economic fallout currently being caused by widespread lockdowns aimed at mitigating the spread of the Delta strain of COVID-19.
RBA rules on August cash rate
RBA rules on August cash rate Share
In this special announcement, partnered by Legal Home Loans, learn the outcome of the RBA’s August board meeting.
The Reserve Bank of Australia (RBA) has revealed its decision on the August 2021 cash rate, as governments grapple to minimise the economic fallout caused by the COVID-19 Delta strain.
Continuing the recent record-low run, the official cash rate will once again remain at 0.1 per cent.
CreditorWatch chief economist Harley Dale has weighed in on the central bank’s latest decision, stating it “comes as no surprise” as Australia contends with the economic fallout currently being caused by widespread lockdowns aimed at mitigating the spread of the Delta strain of COVID-19.
Mortgage Business
Low rates don’t automatically boost house prices: PIPA By Sarah Simpkins 28 July 2021
Analysis of cash rate changes has found property price growth is less dependent on low interest rates than commonly believed, according to a property industry body.
Peter Koulizos, chair of the Property Investment Professionals of Australia (PIPA), has completed an analysis of the Australian Bureau of Statistics’ established house price indexes for three periods over the past two decades, when interest rates were stable.
He deemed that low interest rates have not automatically translated to significant rises in house prices.
From September 2016 to September 2019, the cash rate was merely 1.5 per cent and the weighted average across eight capital cities saw the established house price index increase by 1.24 per cent over t
While the Australian economy continues to recover from the pandemic, more than 70 per cent of property investors believe it is already a good time to buy.