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RBA Interest Rate Update

Cash rate remains at 2.00%

Today’s decision by the RBA is positive for property markets as it keeps the official cash rate at the record low level of 2.00%. This historic low rate has been a key driver of buyer demand over the past year and holding it steady will ensure that mortgage affordability remains high.

The strength shown in the most recent employment data, low inflation combined with the Australian dollar hovering around US$0.70, means that a period of interest rate stability is most likely.