At the first board meeting of the year, the RBA signaled no change in the official cash rate for the ninth straight month.
Widely tipped decision comes amid slumping Chinese economy and the beginning of this year's surprising to trading on ASX.
In a statement on the decision RBA Governor Glen Stevens said Australia's terms of trade continued to decline on the back of falling commodity prices.
"The financial markets have once again shown increased volatility recently, as participants grappled with uncertainty about the global economic outlook and divergent policy settings between major jurisdictions," he said.
"At its meeting today, the Board considers that there are reasonable prospects for continued growth in the economy, with inflation close to the target. Therefore, the Board decided that the current setting of monetary policy remains appropriate."
More than half of survey respondents finder.com.au leading economists predict rates will not fall lower than the current level of 2% in 2016.
The last time the RBA cut the official interest rate was in May 2015.
Borrowers are encouraged to do their research when considering purchasing or refinancing property.
Bessie consumer advocate Hassan says the survey shows further economic downturn in China would leave Australia at risk of recession.
"The experts are divided on whether the recent slowdown in the Chinese economy will have an impact on the Australian property market," he said.
"Australian property market is not a single entity and the jury is out as to how much influence China's foreign investment has property prices.
"Regardless, borrowers are encouraged to do their research when considering purchasing or refinancing property.
Widely tipped decision comes amid slumping Chinese economy and the beginning of this year's surprising to trading on ASX.
In a statement on the decision RBA Governor Glen Stevens said Australia's terms of trade continued to decline on the back of falling commodity prices.
"The financial markets have once again shown increased volatility recently, as participants grappled with uncertainty about the global economic outlook and divergent policy settings between major jurisdictions," he said.
"At its meeting today, the Board considers that there are reasonable prospects for continued growth in the economy, with inflation close to the target. Therefore, the Board decided that the current setting of monetary policy remains appropriate."
means that the interest rate in 2016?
More than half of survey respondents finder.com.au leading economists predict rates will not fall lower than the current level of 2% in 2016.
The last time the RBA cut the official interest rate was in May 2015.
Borrowers are encouraged to do their research when considering purchasing or refinancing property.
Bessie consumer advocate Hassan says the survey shows further economic downturn in China would leave Australia at risk of recession.
"The experts are divided on whether the recent slowdown in the Chinese economy will have an impact on the Australian property market," he said.
"Australian property market is not a single entity and the jury is out as to how much influence China's foreign investment has property prices.
"Regardless, borrowers are encouraged to do their research when considering purchasing or refinancing property.
He said borrowers should start to prepare for future interest rate rises now, with one of the four economists predict a rise in interest rates this year.
"With rates expected to begin this climb, it's time to crack down on your home loan payments. Every part of your principal you can get rid of right now is the part you'll avoid paying interest once your payment increases.
The heat that comes out of the property market
CoreLogic RP Data head of research Tim Lawless said housing markets move exactly as the RBA wants, by living the values in the cities combined Australia fell 0.6% in the last three months.
He said the market lost steam collapse completely without value.
Other factors add to the argument continues likely to have been around a labor market that has shown healthy trends based on data from the Bureau of Statistics and retail sales showed better appetite for households to spend.
"With the heat in the housing market may not be a major concern for the RBA again, the main obstacle has been removed from preventing a decline in interest rates and we can see the cash rate moving lower at the end of the year."
Melbourne's best performance of the capital
As the heat out of the property market, counterfeit Sydney Melbourne has been voted the best performing capital city to live values rise in the last 12 months.
The latest CoreLogic RP Data hedonic Home Value Index for January showed Melbourne live score rose 11% in the 12 months up to January 31, 2016, slightly ahead of Sydney which saw an increase of 10.5%.
Changes in the value occupancy for January 31, 2016
- City Month Quarter YoY Median price
- Sydney 0.5% -2.1% 10.5% $ 776,000
- Melbourne 2.5% -0.1% 11% $ 595 000
- Brisbane -0.7% 0.8% 2.8% $ 478.200
- Adelaide 0% -0.9% 1.1% $ 420.200
- Perth -1% 1.7% -4.1% $ 515,000
- Hobart 4.7% 3% 2.3% $ 332.500
- Darwin -0.1% - 1.4% -2.5% $ 520,000
- Canberra 0.9% -0.6% 6% $ 587.500
- The combined capital of 0.9% -0.6% 7.4% $ 572.500
Bank holds rates for the ninth consecutive month to home
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Oleh
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