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Cash rate for May remains unchanged at 0.1%

The RBA held its monthly board meeting today and as expected, maintained the cash rate at 0.10%.

As a sign the economy is growing at a healthy but controlled pace, the RBA is heavily focused on restoring inflation to within its 2-3% target range.

The recently released March quarter consumer price index data shows the annual inflation rate at just 1.1%, reaffirming we are unlikely to see an interest rate rise for some time.

Rates are at a record low and lenders continue to offer very competitive rates. We can answer your questions and look at your circumstances to make sure you’re prepared for what could be coming next. This could mean refinancing or approaching your lender for a better rate. Because we do this type of work every day, we have a pretty good idea what lenders can do to win or keep your business.

We’re here to help if you have any questions or wish to review your circumstances. Please don’t hesitate to give us a call.

Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change.