Interests rates left on hold in May
At its May meeting, the Reserve Bank of Australia (RBA) decided to leave the official cash rate unchanged at 1.5 per cent. The decision makes it 21 months in a row where the RBA has decided to leave the cash rate on hold.
Whilst the latest data indicates the economy is slowly improving, analysts predict the RBA will not raise rates anytime soon and no cash rate cuts are on the horizon at all.
Meanwhile, the autumn property market is going strong, with record auction numbers in many cities.