Year ends with no interest rate movement

4 December 2018

The Reserve Bank of Australia has kept interest rates on hold for the whole of 2018, following the decision to keep rates at 1.50 per cent at its December meeting, according to the Real Estate Institute of NSW.

REINSW President Leanne Pilkington said she expects to see the official cash rate remain at its current level through the first half of 2019.

“Subdued housing transaction activity and price declines in some markets make an interest rate increase in the near term an unnecessary risk,” Ms Pilkington said.

“A strong labour market will be a key factor supporting the economy as we look to the new year.”

The RBA cut interest rates by 25 basis points in August 2016, as well as May 2016. There were no changes to interest rates in 2017 and 2018.

The RBA will next meet on Tuesday, 5 February 2019.

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For further information or to arrange an interview with Leanne Pilkington, contact REINSW on (02) 9264 2343 or email [email protected]
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