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Reserve Bank leaves official interest rates on hold in July

By Shelley Baker

And its official…. rates will remain on  hold over July at the record low 1.5 per cent where they have settled since August 2016

The latest economic data has improved encouraging the Reserve Bank to maintain its recent conservative approach to office rate settings.

With the sharp decline in the jobless rate, the Reserve Bank is now more likely to keep rates on hold for the foreseeable future, although our underperforming economy is not out of the woods yet.

How will this affect the housing market? The usual winter slowdown is starting to affect the Sydney and Melbourne with lower auction clearance rates over June. Recent changes to stamp duty should supplement buyer activity.

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