Master Builders welcomes RBA rate cut

MASTER Builders Australia welcomed the Reserve Bank’s (RBA) decision to cut the official interest rate by 25 basis points to 1.5 per cent on Tuesday, August 2.

“The rate cut will help maintain confidence in the new housing market which has been a ray of sunshine in the economy, particularly in sustaining employment,” Master Builders Australia CEO Wilhelm Harnisch said.

“The rate cut should give new home buyers the confidence to enter into home ownership with the prospects of interest rates remaining at current levels for the foreseeable future.

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