Macquarie Bank interest rate report

Ben Forrester, Associate Director, Macquarie Wealth Management
Tuesday 03 July 2018

RBA keeps rates on hold at 1.5%

03 Jul 2018

July is the 23rd month that the Reserve Bank has kept interest rates on hold at 1.5%.

The economy continues to gradually improve, supported by above-trend global growth, however it is simply not improving fast enough to move the RBA Board at this time. Unemployment remains around 5.5%, wages growth is 2%, average earnings growth is weaker and market determined inflation is below 1% per annum, which remains below the RBA’s preferred two to three per cent range.

Macquarie now believes the RBA won’t need to lift the cash rate until early 2020.

If you enjoyed reading this article, why not share it?

Simply copy and paste the text and include a link to the article. Please read the Expertise Articles Terms of Use before sharing.

Unless stated otherwise, this information has been prepared by Macquarie Bank Limited ABN 46 008 583 542 AFSL and Australian Credit Licence 237502 and does not take into account your objectives, financial situation or needs. You should consider whether it is appropriate for you. All applications are subject to Macquarie's standard credit approval criteria.