For the tenth consecutive month on 4 July 2017, the official cash rate remained unchanged by the Reserve Bank of Australia (RBA), at 1.50%.
The RBA Board stated the various forward-looking indicators continue to suggest growth in employment over the period ahead. Although wage growth continues to remain low, inflation is expected to increase gradually as the economy strengthens.
Drawing attention to housing market conditions varying considerably around the country, the Board cited that prices have been rising briskly in selected markets, although there are some signs that these conditions are starting to ease. In some other markets, prices are declining.
New supply projected over the coming years, with slower rents increases, together with supervisory measures should defuse the risks associated with elevated and rising levels of household indebtedness.
Source : Knight Frank