No move in housing rates

As widely expected, the nation’s official interest rate remains on hold at a historic low of 1.5 per cent. The rate has remained at this level since August 2016, when it was reduced from 1.75 per cent.

Last month, the bank’s governor Philip Lowe suggested that rates were not about to drift upwards any time soon, amid concerns about poor wage growth and high levels of household debt.

#interestrates #onhold #mortgage #15 #nochange

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