According to Australian Bureau of Statistics there has been a sharp decline in the jobless rate. The Reserve Bank, due to this, attempt to keep rates on hold at this time.
The record low 1.5 per cent interest rates seems to be staying for sometime. The Winter sales market has slowed which is now effecting the larger cities in Australia.
Housing worries have been a repeating theme and the board remains concerned. The other concern and what the reserve bank is trying to avoid is interest rates raising too fast. Those property investors and those with interest-only loans have already seen the banks raise the interest rate regardless of the RBA.
The Australian dollar has also taken a dive after the decision. There has been some signs however, of improvement in business investment with the economy slowly overcoming the drop in the mining sector.
The other concern that has come into consideration is that household debt is at an all time high. The remaining low interest rates come as a sigh of release for first home owners.