Interest Rate News

February 5, 2019/Aqua Connect

The Reserve Bank of Australia (RBA) has met for the first time this year and decided to keep the official cash rate on hold. Flat economic data for the last quarter of 2018 will most likely motivate the RBA to leave them unchanged for some time. Meanwhile, several banks have announced out-of-cycle rate changes – some larger lenders raised their variable rates, while a few smaller lenders lowered them to grab market share.