“Housing credit growth to owner-occupiers has picked up, with strong demand from first-home buyers,” RBA Governor Philip Lowe says, adding that the board does not see a cash rate change until 2024 at the earliest.
Susan Mitchell, CEO of Mortgage Choice says: “The latest RBA decision comes as no surprise when you consider the unemployment rate and inflation are some way off the RBA’s targets.”
But some economists believe there will be a cash rate increase by the end of the year. Finder’s RBA cash rate survey saw six out of its 39 panellists suggest there will be a rate change, with Dale Gillham of Wealth Within expecting a rise as early as July. Five other economists predict a cash rate rise in the December Quarter.