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February cash rate remains unchanged at 0.10%

The Reserve Bank today confirmed the official cash rate will remain at 0.10% for the foreseeable future.

Rising inflation and falling unemployment led to speculation in the lead up to the meeting that the RBA would be forced to reassess its 2024 forecast for the next rate rise.

With future rate rises linked to wages growth, all eyes will be on the minutes of the meeting for any update on that guidance.

With record-low rates on hold for the moment, competitive terms are still available to borrowers who act now.

I deal with multiple lenders every day, so I know just how flexible they can be to keep or win your business.

It never hurts to ask the question, so get in touch to review your options.

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.