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As mentioned on our blog yesterday, the RBA has played it safe with Australian interest rates, keeping them steady at their record low of 2.75% for another month, however, the RBA Board did hint at possible further interest rate cuts later in the year.
Professionals CEO, Ted Piteo, said the ongoing interest rate stability would be welcomed by mortgage holders, and by those people wanting to purchase their first home.
On the back of last week’s momentous changes in Parliament, there is a sense that Australians will welcome a period of greater certainty leading up to the Federal Election in August/September, after months of ongoing speculation about the Federal Government leadership.
“I don’t blame people for being sick and tired of politics at the moment,” Mr Piteo said. “It has been a difficult time for small business as well with uncertainty over the upcoming election and this impacts across our economy.”
“At least a sense of certainty over interest rates and the Prime Minister ship might now prevail and give everyone in the country a chance to get on with the job.”