5 Aug 2010
It some very unsurprising news this week, interest rates stayed just as they are, at the current cash rate of 4.5 percent.
This is the 3rd time in a row that interest rates have been kept on hold and the question on many homeowners’ minds has been, “should we still be expecting interest rates to go up any time soon?”
If we listen to the economists we might be lucky enough to have steady interest rates until December, when it is predicted that the cash rate could go up to 4.75 – 5 percent.
It is likely the Reserve Bank will want to wait until they have more data on the rate of inflation before they make the decision to lift interest rates again.
Let’s hope that the economists are correct and that we can enjoy steady interest rates for a little while still to come.