The cash rate will stay at 0.10 per cent, as the Reserve Bank of Australia (RBA) continues to monitor how various factors affecting inflation evolve. Read today’s official statement on the RBA’s Website.
While the cash rate remains on hold for the moment, many economists believe there will be an increase later this year, some expecting it to come as early as June. The Government’s cost of living packages announced in the federal budget added further fuel to the fire that interest rates could rise.
Regardless, interest rates have been on the move recently, with some lenders slashing and some have increasing their fixed-rate loans.
To find out how your lender compares to others and whether you could be getting a better deal elsewhere, get in touch today. Fornaro are here to assist.