The Reserve Bank of Australia has decided to keep the official cash rate unchanged. The Board decided to leave the cash rate at 4.25 per cent for the third consecutive month. The decision was largely expected, with most economists now expecting rates to stay on hold until mid-year.
In March the RBA kept rates on hold, however most of the major banks moved rates, so it will be interesting to see what happens in April. Over the next few days we will find out which lenders will adjust rates.
My take is that, banks and other major lenders have now entered a competition cycle and they will all be trying win more business. Look out for good deals on the fixed interest side and also the application fee.