RBA Decision July 2017

The Reserve Bank Board has announced its decision on the cash rate for July.

We can’t help but wonder if that is all there is to it?

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The Cash Rate has been on hold since August 2016 and no change has been made for this month.

From our perspective the Reserve Bank seems to be quite happy for the Banks to do all the heavy lifting for them.

While the Cash Rate stays at 1.50%, the borrowing rates for customers have leapt dramatically over the past few months. The Bank increases have targeted Investors and Interest Only loans in particular so these moves have effectively made the Reserve Bank’s decision much easier. Of course, it’s not good news for investors or indeed owner occupiers with Interest Only loans either.

It isn’t clear whether any decrease by the RBA would simply be another reason for the major banks to improve their bottom line either given the out of cycle interest rate increases.

Only time will tell.

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