Record-low rates retained as property prices soar By Jarrod McAleese
Having slashed interest rates in 2020 twice, once in March and again in October, the Reserve Bank of Australia (RBA) has since maintained its record of 0.1%.
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The RBA routinely reviews and adjusts interest rates up and down to either stimulate the economy or cool it down in a period of crisis – alas 2020.
Governor Philip Lowe noted that the nation’s economy was making steady progress as it rebuilds in the wake of COVID-19.
There were positive signs in the RBA’s latest monetary policy update –
“The recovery in Australia is well under way and is stronger than had been
