RBA alert Rates to stay on hold

The Reserve Bank of Australia has decided to keep the cash rate ON-HOLD today in their monthly meeting – meaning that home owners will have to face another month of interest rates at their current levels.

This time last year the rates were at 3.5% which puts the current rate now at an historic low.

The Australian dollar dropped after the announcement, and is buying 91.9 US cents and is a huge difference as you can see from the table below showing that in the past year it has dropped from from a high of 1.05 US cents.

What effect do you think will happen to the Australian Economy or even on your own personal economy , I’d love to hear what my readers think about it?

Sorrento Living US Dollar Exchange Rate