Australia's interest rate remains on hold at the historic low level of 0.1 per cent

today decided to keep the interest rate on hold despite criticism that historically low rates were "supercharging" the property market.

"Housing credit growth has picked up due to stronger demand for credit by both owner-occupiers and investors. The Council of Financial Regulators has been discussing the medium-term risks to macroeconomic stability of rapid credit growth at a time of historically low interest rates. "The Reserve Bank reduced interest rates to historically low levels and introduced a suite of other policy measures to lower funding costs and interest rates across the economy," Ms Bullock said.

"The idea was that we were building a bridge to get us over the economic crevasse created by the pandemic."Despite interest rates holding at 0.1 per cent since November 2020, the true pocket cost of Aussie mortgages may change over time.

jekearsley Well duh! 🙄

jekearsley How does this story mesh with the claim of the stunningly low unemployment rate? If there's a jobs rush with such low unemployment can we expect to see an increase in wages as business competes for employees?

jekearsley A Maori boy from NZ is predicting a spike in unemployment after mandating the vaccine for selected private sectors

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Australia's interest rate remains on hold at the historic low level of 0.1 per centThe Reserve Bank of Australia (RBA) today decided to keep the interest rate on hold despite criticism that historically low rates were "supercharging" the property market. Can't go lower, can it ? Joseph Goebbels would be proud of your Network. You even turned off all Youtube comments because YOU KNOW IT! Plan B
Source: 9NewsAUS - 🏆 10. / 72 Read more »

RBA holds interest rates at record lows, sticks to bond buying programBreaking: The Reserve Bank has held official interest rates steady at 0.1 per cent and remains committed to its gradual wind back of its quantitative easing program | swrighteconomy swrighteconomy Inflation is coming swrighteconomy RBA is still clueless. swrighteconomy This is mad. It’s only making the cost of housing to go up and when rates go up again the houses will be cheaper as there will be more on the market.
Source: smh - 🏆 6. / 80 Read more »