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RBA continues wait and see approach

7 March 2017

The Reserve Bank of Australia has decided to keep interest rates on hold at the record low of 1.50 per cent for a sixth meeting in a row.

REINSW President John Cunningham said the RBA is taking a wait and see approach. He said: “The decision by the RBA to keep interest rates steady at its March 2017 board meeting came largely as expected.

“All eyes are on international interest rate movements and it is unlikely that the RBA will act until at least May. 

“It is time for those who are purchasing property and existing mortgage holders to carefully review their financial position as future interest rate rises should be factored into their commitment,” Mr Cunningham said. 

The RBA cut interest rates in by 25 basis points in August and May 2016. The RBA will next meet on Tuesday, 4 April 2017.