As widely speculated, the RBA reduced the official cash rate to another record low of 0.10% today.
At the same time, the RBA board also introduced further measures to stimulate the economy amid the COVID-19 pandemic.
The message we can get is, as Mr. Harley Dale, CreditorWatch chief economist, said that the RBA is now out of ammunition in terms of the official cash rate.
“Any further support the Australian economy requires will have to come from fiscal policy and quantitative easing, but then the fiscal policy has been doing most of the heavy lifting in 2020,” Mr. Dale said.
If you want to know what mortgage strategy is suitable for your financial situation and requirements, please contact us and we will work out a tailor-made loan solution for you.
At the same time, the RBA board also introduced further measures to stimulate the economy amid the COVID-19 pandemic.
The message we can get is, as Mr. Harley Dale, CreditorWatch chief economist, said that the RBA is now out of ammunition in terms of the official cash rate.
“Any further support the Australian economy requires will have to come from fiscal policy and quantitative easing, but then the fiscal policy has been doing most of the heavy lifting in 2020,” Mr. Dale said.
If you want to know what mortgage strategy is suitable for your financial situation and requirements, please contact us and we will work out a tailor-made loan solution for you.
