Dear %%First Name%%
At the Reserve Bank meeting, the cash rate was left unchanged at 3.00% once again.
Globally, things are looking a lot more stable and sentiment continues to improve. However, there is still a risk that some economies may stall. China does not appear to be one of them which is good news for us, as its continued strong growth is definitely assisting our economy and other economies in our region.
The first six months of this year saw our government handing out cash to stimulate the economy which has been effective. Both consumer spending and exports have strengthened and confidence appears to have recovered.
Australia remains one of only a few global economies to have avoided two consecutive quarters of contractions which is widely seen as the definition of recession. There are indications that if rates are to move in the near future it could well be upwards as the RBA juggles the need to keep rates low with the fact that housing prices are steadily rising. It is a bit of a “Catch 22”. But the news for now is that we can continue to enjoy the lowest rates in almost 50 years.
Give us a call to find out how you can benefit from this current unprecedented rate environment…because like all good things at some point it will have to end!