Australia’s Interest Rates Kept On Hold
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Australia’s Interest Rates Kept On Hold

Rates stay at historic low 0.1 per cent.

By Terry Christodoulou
Tue, Mar 2, 2021Grey Clock < 1 min

Today, the RBA has passed down its decision to keep Australia’s interest rates on hold at the historic low of 0.1 per cent.

The decision comes despite growth in the Australian property market and the global economic outlook appearing more favourable.

The statement highlighted the importance of low rates to support the rebuilding of the economy and support the supply of credit to both households and business balance sheets.

“Lending rates for most borrowers are at record lows and housing prices across Australia have increased recently,” said Governor of Monetary Policy Decision Philip Lowe.

“Housing credit growth to owner-occupiers has picked up, but investor and business credit growth remain weak. Lending standards remain sound and it is important that they remain so in an environment of rising housing prices and low-interest rates.”‘

The decision has also taken into account the global economic outlook in the wake of COVID-19 and the successful rollout of vaccines.

“The outlook for the global economy has improved over recent months due to the ongoing rollout of vaccines. While the path ahead is likely to remain bumpy and uneven, there are better prospects for a sustained recovery than there were a few months ago,” added Dr Lowe.

Closer to home, economic recovery is well underway with unemployment declining to 6.4 per cent alongside strong retail spending and most households and businesses that had deferred loan repayments having now recommenced payments.

The recovery is expected to continue with the GDP expected to return to its end-2019 level by the middle of this year

The Reserve Bank remains committed to the 3-year yield target and has doubled the bond-buying program last month by extending it for a further 20 weeks.

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By Robyn Willis
Fri, Aug 5, 2022 2 min

When people talk about making a seachange, chances are this is the kind of property on the NSW South Coast that they have in mind.

Open for inspection for the first time this Saturday, 24 Point Street Bulli offers rare absolute beachfront, with never-to-be-built-out north facing views of the ocean. Located on the tip of Sandon Point, this two-storey property is a surfer’s dream with one of Australia’s most iconic surf breaks just beyond the back wall.

On the lower floor at street level, there are three bedrooms and two bathrooms, including a family bathroom and an ensuite in the master suite. A fourth bedroom is on the upper floor, along with the main living area, and is serviced by its own bathroom. 

While this would make a spectacular holiday home, it is well equipped for day-to-day living, with a spacious gourmet kitchen and butler’s pantry set into the articulated open plan living area on the first floor. A separate media room to the street side of the property on this level provides additional living space. 

Every aspect of this property has been considered to take in the light and views, with high ceilings internally and spacious, north facing decks on both levels to take in views of rolling waves. If the pull of the ocean is irresistible, it’s just a 100m walk to feel the sand between your toes.

The house is complemented by a Mediterranean, coastal-style garden, while the garage has room for a workshop and two car spaces.

An easy walk to Bulli village, the property is a 20 minute drive from the major hub of Wollongong and just over an hour to Sydney.

 

Open: Saturday August 6 2pm-3pm Auction: Saturday September 3 Price guide: N/A but expected to exceed $5.3m paid in March for 1 Alroy Street 

Contact: McGrath Thirroul – Vanessa Denison-Pender, 0488 443 174