Reserve Bank leaves official interest rates on hold again over June

By Ebru Kopuz

The Reserve Bank has decided yet again to leave official interest rates steady over June. Rates have now been on hold since August last year when they were cut to the record low 1.5 per cent.

Although rates remain on hold, latest data continues to provide mixed signals regarding the overall strength of the economy.

While the national jobless rate has improved, underemployment remains a challenge with the trend growth for latest ABS retail sales at the lowest level in nearly five years. ABS building approvals are down by 4.6 per cent this year compared to the same period last year.

Concerns are now growing over the emergence of a longer-term, low-growth economy.

Signs are emerging of an easing in housing market activity with auction clearance rates in Melbourne and Sydney fading over May although conditions clearly remain in favour of most sellers.

Source: domain

Up to Date

Latest News

  • Major Network Of The Year 2020

    We’re proud to announce that Ray White has been crowned the best of the best in the industry at this year’s annual Major Network of the Year at the 2020 Real Estate Business Awards. This award displays our group’s success over the past year especially during these recent hard times … Read more

    Read Full Post