RBA keeps interest rates on hold at historic low 0.10 per cent as property booms

Australia’s interest rates will remain at the historic low level of 0.10 per cent despite surging property prices and a recovering economy in the wake of COVID-19. The Reserve Bank of Australia (RBA) met this afternoon, with the nation’s top economists deciding to hold their hand on adjusting the rate in line with their three-year forecast. Last year marked a near-unheralded year for the RBA, which cut the nation’s cash rate three times in response to fears that COVID-19 restrictions would crush property prices. READ MORE: The ‘perfect storm’ driving up Aussie house prices The RBA may find itself under pressure to … (full story)

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