The Reserve Bank of Australia has kept interest rates on hold at 1.5 per cent at its July 2018 board meeting.
REINSW President, Leanne Pilkington, says the hold pattern remains appropriate in the current climate.
“Global economic forces, the widening wage gap between older and younger working Australians, and outcomes of the banking Royal Commission might all impact the RBA’s outlook in the near term,” she says.
“But for now it’s important that interest rates remain steady."
The RBA cut interest rates by 25 basis points in August and May 2016 and there was no change to interest rates in 2017.
The RBA board will next meet on Tuesday, 7 August 2018.