The Reserve Bank of Australia (RBA) has delivered its final cash rate announcement for the year with the decision to leave the rate unchanged at 0.75%.
In making the decision the RBA appears to be assessing the impact on the broader economy of the three previous cash rate reductions together with recent tax cuts, government spending on infrastructure and signs of improvement in the resources sector.
The RBA will be keeping a close eye on household consumption and the GDP numbers being released later this week as it stays focused on the aim of restoring inflation to within its target range of 2 – 3 %.
If you’d like to have a chat about what today’s news means for you and your finances, please don’t hesitate to get in touch with an AFG broker.
