Based on the meeting last February 02, 2016, Reserve Bank of Australia Board decided to leave the cash rate unchanged at 2.0%.
According to the Board, “there were reasonable prospects for continued growth in the economy with inflation close to target. And it decided that the current setting of monetary policy remained appropriate.
For this year, interest rate unchanged by 2.0%. It forecasted also to remain unchanged till next month. Official cash rate affects and influences in health of the economy. Unemployment, house prices and consider confidence influences the cash rates. Will this result helps property market to recover.