53% of home owners expect RBA cash rate to remain steady: Loan Market survey

Glenn DwyerFebruary 28, 2013

Most Australian home owners expect the Reserve Bank of Australia (RBA) to leave the official cash rate unchanged for a third consecutive month, according to a national survey conducted by mortgage broker Loan Market.

Asked what action the RBA would take at its March meeting, 53% of respondents anticipated the current cash rate to be maintained at 3%.

The Loan Market spokesman Paul Smith, said that home owners were well aware of the state of the Australian economy and the subsequent likelihood of rate cuts.

“Consumer confidence has been varied for some time but these survey results indicate that home owners are aware of the multitude of facts the RBA considers when it assess the cash rate and the impact it can have on their home loans and deposited savings,” he said.

A similar survey done in February showed 55% of home owners correctly predicted the RBA would leave rates unchanged.

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