Low interest rates are expected to continue in 2016, which is good news for mortgage customers.

 

Last week, RBA Governor Glenn Stevens announced that he wasn’t ruling out cutting the cash rate again, but said he would “chill out” until the bank’s first board meeting in 2016 which is held in February.

 

ING Direct’s treasurer Michael Witts said: “They (the RBA) have just about pushed interest rates as far as they can and there’s pretty much no petrol left in the tank in terms of interest rate movements.”

 

The RBA has dropped the cash rate twice this year by .25% in February and May.