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Tim Lawless, CoreLogic Head of Research, comments on RBA’s decision to leave the cash rate at 2.0%

There are plenty of reasons why the RBA may have contemplated cutting the cash rate today.  Australia’s terms of trade are approaching ten year lows due mostly to lower export prices, inflation is tracking at the bottom of the RBA’s target range and the Aussie dollar has once again seen some upwards pressure;  however the housing market is playing out exactly as the RBA probably would have hoped:  losing steam without a collapse in values. 

The last three months have seen capital city dwelling values drift 0.6% lower and capital city home values are up by only 0.7% over the past six months.  The RBA probably doesn’t need to…



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