The central bank reiterated it will not raise the cash rate from its record low of 0.10 per cent until inflation is sustainably between two and three per cent.
INFLATION
With the economic recovery continuing to unfold, firms are looking to ramp up their investment, and with it, they are looking for more staff.
Australia's interest rates will remain at the historic-low level of 0.1 per cent.
Private sector credit (effectively outstanding loans) rose by 0.4 per cent in March – the biggest increase in 13 months.
Prices rose modestly in the first three months of the year, most significantly at the fuel pump, but a temporary ‘blip’ is now expected.
The success of the COVID-19 vaccine worldwide gives us cause for optimism, and it also means a new threat: inflation.
Amid this financial market frenzy, it’s only fair for punters to wonder if mortgage rate rises may be on the cards.
The Reserve Bank of Australia (RBA) has, in a move universally expected, kept the official cash rate unchanged.
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South East Queensland’s unprecedented sales swell continues to attract interstate developers and underpin major projects, with ID_LAND, Little Projects, Sammut Group, Azzura Corporation and Pikos Property making big progress on more than $800 million worth of new developments in recent weeks.
Property price records are tumbling across Victoria, with more than 170 suburbs in Melbourne laying claim to a median house price of $1 million or more, while several key regional locations have also breached the seven-figure barrier.
New lending restrictions will affect different parts of the property market more than others - dig into the details and find out what the changes mean for first homebuyers, investors and trade-up buyers.
Australians downsizing to luxury apartments are driving a rapid rise in prestige property values, with sales of apartments worth $10 million or more in the first half of the year running at nearly eight times more than the 10-year average.
Pent up demand from Sydney buyers emerging from lockdown and Melbourne purchasers likely to soon follow is expected to result in a resumption of the big price gains recorded in the first half of 2021, with both cities remaining in a state of housing undersupply.
Victoria’s state government has made a range of changes to its Windfall Gains Tax prior to it being introduced to Parliament, but industry groups say the move is the “wrong tax at the wrong time” that will have a big negative impact on housing affordability.
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