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RBA keeps interest rates at record lows

5 September 2017

The Reserve Bank of Australia has kept interest rates on hold at 1.50 per cent at its September 2017 board meeting.

REINSW President John Cunningham said it appears that interest rates are now unlikely to change before the end of the year.

“The RBA is walking a fine line and the banks continue to wield strong influence,” Mr Cunningham said.

“Listing volumes are up across most markets and strong sales are happening soon after auction.

“While every boom comes to an end, the market peaked in April and has subsequently stabilised. Buyers and sellers should expect a buoyant and active spring season and then a few years ahead of more modest capital growth.

“Buyers must prepare themselves for interest rate rises in the future, but any movement seems unlikely to happen until next year,” Mr Cunningham said.

The RBA will next meet on Tuesday, 3 October 2017.