RBA Cash Rate Announcement October

At its meeting today, the Reserve Bank of Australia (RBA) has kept the official cash rate at the historic low of 0.25 per cent. To view the official RBA statement, please visit the Reserve Bank’s website.

In September, the RBA decided to increase the size of the Team Funding Facility and make it available for longer to help keep interest rates low for borrowers and support the provision of credit. The RBA also reiterated that it will not increase the cash rate until Australia is on its way back towards full employment and inflation is sustainably within the 2-3 per cent target band.

There have been positive signs in the housing market and a strong rebound in consumer sentiment in the past few weeks. According to data from CoreLogic, new listings are still down but gradually gathering pace.

With this outlook, we may experience low interest rates for a while. You may want to compare available home loans to make sure you’re getting a competitive offer. Get in touch with us so we can help ensure you have the right home loan to suit your needs!

If you’d like to know more about this announcement and what it means for you, talk to us today!