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RBA’s cash rate for July remains unchanged at 0.25%

The RBA has announced that the cash rate will remain unchanged for July with rates remaining at 0.25%.

The RBA is mindful of rising concerns around unemployment post-JobKeeper, falls in housing and home loan approvals, decreasing property values and decreasing credit growth. The RBA maintains the stance that negative interest rates are not the best option for the economy at this point.

If the COVID-19 crisis is affecting your financial situation, please get in touch so we can formulate a plan to manage your loan repayments during these unprecedented times.

With lenders continuing to offer very competitive rates, we can help review your situation to ensure you have the right loan for your circumstances.

If you’d like to chat about the best way to manage your mortgage as the COVID-19 crisis continues to unfold, 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.