RBA Leaves Interest Rates on hold at 2% in August

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RBA Leaves Interest Rates on hold at 2% in August

The Reserve Bank of Australia (RBA) has announced it will hold rates for August at 2%

The Australian Dollar (AUD) is currently about $0.73c and the RBA hoped to use interest rates to lower the value of the dollar in the hope it will increase Australian exports due to low domestic growth, and in a time where we seem to be looking closer a dining boom rather than a mining boom.

The move in keeping the dollar down is not slowing foreign investment as the big dollars continue to roll into the country, and in particular Queensland due to the relatively low property prices.

The Sydney and Melbourne property markets are now out of reach for many young Australians, and local investors are obviously seeing far greater opportunities in Queensland so the market here is really starting to gain memento.

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