Official cash rate remains at 1 per cent after September meeting

He said Australia’s economic growth over the first half of 2019 had been “lower than earlier expected”, with household consumption affected by a long period of low income growth and declining housing prices and turnover.

RBA governor Philip Lowe said the board had decided to keep the cash rate on hold again. Picture: Lukas Coch/AAP ImageAccording to CoreLogic research director Tim Lawless, the resurgence in Sydney and Melbourne housing values was likely a key topic of conversation among the RBA board this afternoon. “Clearly housing market conditions are responding to lower interest rates as well as the recent loosening of loan serviceability rules from APRA and the positive influence of the stable federal election outcome. The recent step up in the pace of value growth is likely to raise some concern that the lowest mortgage rates since the 1950s is fuelling renewed housing market exuberance at a time when household debt remains around record highs.

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RBA holds fire as it awaits data on struggling economyThe central bank has left official interest rates at a record-low 1 per cent as it awaits expected weak GDP data. swrighteconomy ErykBagshaw RBA can't save the economy. LNP are incapable. We're basically fkd swrighteconomy ErykBagshaw The economy isn't struggling, the $AUD is. swrighteconomy ErykBagshaw Central banks trying to look like they know what they’re doing....looking at ‘data’.....please. Jokers.
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