It should come as no surprise to many that the Reserve Bank of Australia (RBA) has maintained the official cash rate at 1.50%, in line with the last 22 months. This is the longest length of time that a rate has remained at the same level consistently. An increasing number of economists now predict that we are not likely to see a change in this rate anytime soon; some looking as far as 2020 at the earliest. Financial markets aren’t fully priced for a 25 basis point increase in the cash rate until late 2019.
Please be advised that all Family First Credit Union offices will be closed for Bank Holiday on Monday 6 August 2018.