December cash rate remains unchanged at 0.10%

NewsRBA Updates
December 7, 2021

At its board meeting today the RBA confirmed the official cash rate would remain at 0.10%.

This was no surprise given that at its last meeting the bank confirmed that to consider an increase it would need to see underlying inflation between 2% and 3% on a sustainable basis, full employment and materially higher wages growth.

Increases to the headline inflation rate, driven mainly by the rising cost of fuel and new housing, have however seen markets speculate that rates will rise before the RBA’s forecast date of 2024.

Whilst overall home loan interest rates are still close to historical lows, this speculation has seen many lenders increase their fixed rates.

Rates are at a record low and lenders continue to offer very competitive rates. We can answer your questions and look at your circumstances to make sure you’re prepared for what could be coming next. This could mean refinancing or approaching your lender for a better rate. Because we do this type of work every day, we have a pretty good idea what lenders can do to win or keep your business. We’re here to help if you have any questions or wish to review your circumstances. Please don’t hesitate to give us a call.

Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change.