Interest rates on hold at record low

The Reserve Bank of Australia has kept interest rates steady at a record low of 2.25 percent.

The RBA today decided not to reduce the official cash rate by 0.25 percent, despite recent speculation by local economists.

Despite weak employment, inflation and company profit figures any potential cut is another month away.

Interest rate cuts in China on the weekend suggest our largest trading partner is slowing down, which affects Australian exports.

Australian mortgage holders will now be waiting to see if any lenders will change interest rates.