Bathurst Blog

RBA DELIVERS CASH RATE VERDICT

The Reserve Bank of Australia has announced the official cash rate for September, following its monthly board meeting.

The RBA has decided to maintain the current official cash rate at its record low of 1.50 per cent. Having delivered the same result for 13 months, it is an RBA verdict that will surprise few.

The cash rate last moved in August 2016, ticking down by 25 basis points.

Mortgage Choice CEO John Flavell said that he was unsurprised by the verdict, noting that the rhetoric from the RBA board around rates supported a steady rate.

Mr Flavell said: “In the minutes of the August board meeting, the Board acknowledged that a prolonged period of rate stability was consistent with sustainable growth in the economy and achieving the inflation target over time.