Interest rate dropped to 2.5%
Posted
@ Aug 1st 2013 7:02pm
- By GCPN Property Network
The Reserve Bank of Australia has cut rates from 2.75% p.a. to 2.50% p.a.
The Reserve Bank of Australia has confirmed they are dropping the interest rate to 2.50% p.a., bringing an end to the three month hold at 2.75% p.a.
Rates have been held low throughout 2013 and further drops have been rumoured to take place to stimulate the Australian economy,
The rate cut this month could lead to a spike in purchases in the property market as many people seize the opportunity and look at entering the market as a first-time buyer or expanding their portfolio by moving into investment property.
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