- RBA Board to make announcement 2pm South Australian time tomorrow
- RBA Unlikely to raise rates, as European Central Bank & US Federal Bank both made hold decisions
- RBA likely to take into consideration positive balance of trade, inflation, unemployment, wage growth, housing supply and the general global economy.
The RBA will meet to make it’s first interest rate decision for 2017 tomorrow, and will announce it’s decision at 2pm Australian Central Time.
No change to the interest rate is expected, as both the European Central Bank & United States Federal Bank made “Hold” decisions on their interest rates earlier this year.
Major considerations for the RBA will be the recent positive balance of trade figures, inflation rates, unemployment rates and wage growth, housing supply, as well as the general global economy.
At the previous meeting on the 6th of December, the RBA’s Governor Phillip Lowe said of the housing market;
“Conditions in the housing market have strengthened overall, although they vary considerably around the country. In some markets, prices are rising briskly, while in others they are declining. Housing credit has picked up a little, although turnover of established dwellings is lower than it was a year ago. Supervisory measures have strengthened lending standards and some lenders are taking a more cautious attitude to lending in certain segments. Considerable supply of apartments is scheduled to come on stream over the next couple of years, particularly in the eastern capital cities. Growth in rents is the slowest for some decades.”
SA Real Estate News will announce the decision shortly after the announcement with highlights from the statement.