What is the outlook for interest rates?

The Reserve Bank of Australia board was content to keep official interest rates on hold for June at the current setting of 1.75 per cent.

The RBA governor Glenn Stevens said economic growth and inflation were both lower and expected to remain low. Economists are still expecting lower rates in 2016.

Tom Kennedy, economist at JP Morgan, is predicting a rate cut in August 2016 and again in early 2017.

Source: The New Daily