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Interest rates appear to be going nowhere with the Reserve Bank of Australia deciding to keep interest rates on hold at 1.50 per cent at the March board meeting

REINSW President Leanne Pilkington said the current interest rate remains appropriate.

“The fact that the banks themselves are applying tighter lending criteria to their customers demonstrates the potential impact a rate rise too soon may have.

“It’s a precarious position requiring a steady environment in the near term and under the current conditions we don’t expect any movement until 2019,” Ms Pilkington said.

The RBA will next meet on Tuesday, 3 April 2018.