The RBA has looked past the housing downturn which has gathered some momentum over the past three months, to hold the cash rate firm at their first meeting this year.
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 | Tim LawlessTim Lawless is head of research at CoreLogic Asia Pacific. |
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The longest period of interest rate stability on record has extended out another month, with the RBA keeping the cash rate on hold at 1.5% where it has remained since they cut the cash rate by 25 basis points in May and August of 2016.
Mortgage rates to investors are up as much as 50 basis points over the same time frame but the RBA has held the cash rate at 1.5% for a record 27th month.
Despite the housing downturn gathering some pace in September, we don't expect the RBA to throw a lifeline to the housing market in the form of lower interest rates.
The RBA has kept rates on hold, with financial markets betting the cash rate won't move until at least January 2020.
The RBA's decision to keep the cash rate on hold marks the two year anniversary of the last change; the longest period of interest rate stability on record.
The RBA has left the cash rate on hold at 1.5% despite smaller banks and non-banks pushing mortgage interest rates higher,
The Reserve Bank of Australia today kept the cash rate on hold at 1.5% for a record 20th meeting, however, there is risk that mortgage rates could rise.
The RBA has once again left the cash rate on hold at 1.5%, with financial markets betting the cash rate won't rise until July 2019.
While the RBA has flagged the next move in interest rates will be a rise, it remains likely that any hike to the cash rate is well in the future.