Interest rates are tipped to stay on hold for June, and possibly for the rest of the year, as the economy absorbs two earlier rate cuts.
Rates are currently at 2% after they were cut by 0.25% in February and again in May. Market Economics managing director Stephen Koukoulas says the Reserve Bank will sit tight in June. “There’ll be no change in June and for quite a few months,” he says. “We’re at 2% and the economy is ok – it’s not strong, but certainly not any weaker than it was.”
Sourced – RE.com