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August 2021 RBA interest rate announcement

Hume Bank
05/08/2021

Hume Bank CEO, Stephen Capello, caught up with Kylie and Kev to chat through this month's RBA catch-up.

Some key discussion points below:

  • The RBA has advised that until wages, growth, and employment levels are where they need to be then no interest rate changes will be forthcoming.
  • There will always be lag until the full impact of lockdown’s are felt for NSW and VIC, COVID-19 has affected businesses on both sides of the border.
  • Property price growth has less effect on interest rates and there is supply and demand concern of housing supply in regional Australia.
  • Sellers will benefit in this market, but borrowers should review their current interest rate and check if they are on the best product to suit their needs and be mindful of what they can afford.

You can read the full statement by RBA Governor, Philip Lowe on the RBA website and listen to the full radio recording below.