News

The Reserve Bank has decided against cutting rates for the third month in a row and has left them at their record-low of 1 per cent.

The Federal Government has introduced legislation to Parliament – backdated to July 1 – that cuts back negative gearing concessions on vacant land.

The US Fed has cut rates for the first time since the Global Financial Crisis and it has put pressure on the Reserve Bank here at home to lower its official cash rate again in the coming months.

Economists say it’s well and truly possible that the Reserve Bank could cut interest rates twice more in the next year.

Melbourne’s median house price has risen for the first time in 18 months, reflecting growing sentiment that the market downturn is over.