Global Power | Local Knowledge | Uniquely Personal

REIA confident that interest rates will stay

The record low interest on mortgages are expected to continue according to RBA.

Record low rates of interest on mortgages are expected to continue, according to the Real Estate Institute of Australia (REIA).

Noting the results of the quarterly consumer price index (CPI) figures, it said that with inflation at the level that it is the Reserve Bank of Australia (RBA) should maintain current interest rate levels.

In the three months leading to September, the CPI rose by 1.2 per cent to 2.2 per cent. This is well within the RBA's target range for inflation of two and three per cent.

President of REIA Peter Bushby said: "With inflation well under control and a subdued economy, it’s appropriate that the RBA Board maintains interest rates at their present level when it meets on Melbourne Cup Day."

The RBA has made a number of cuts to its benchmark interest rate since 2011. Its most recent cut was in August 2013, when it reduced the benchmark rate to a record low 2.5 per cent.

Posted by Ravin Chatlani

DISCLAIMER: All information provided is of a general nature only and does not take into account your personal financial circumstances or objectives. Before making a decision on the basis of this material, you need to consider, with or without the assistance of a financial adviser, whether the material is appropriate in light of your individual needs and circumstances. This information does not constitute a recommendation to invest in or take out any of the products or services provided by SMATS Services (Australia) Pty Ltd or Australasian Taxation Services Pty Ltd.

COPYRIGHT: All information provided is protected by international copyright laws. You may not copy, reproduce, distribute, publish, display, perform, modify, create derivative works, transmit, or in any way exploit any such content, nor may you distribute any part of this content over any network. Copying or storing any content is expressly prohibited without prior written permission of SMATS Group or the copyright holder identified in the individual content's copyright notice. For permission to use the content on please contact

Subscribe Now