AS WE etch closer to the end of 2017, the Reserve Bank of Australia have met for the last decision of the calendar year.
There were no surprises as the cash rate ended the same as it began 2017 at 1.5percent.
The historically low rates are great for borrowers and buyers hoping to get in to the market and take advantage of the low rates and mortgage repayments.
On the flip side, the deposit rates remain low causing some pain for self-funded retirees and people relying on the interest of their deposit facilities.
So why stay the same?
The economy is tracking steady, property prices in major cities remain stagnate according to Core Logic, unemployment is reduced at 5.4percent and business conditions are improving.
What happens next?
If only I had a crystal ball for 2018.
I didn't predict rates would remain the same for 16 consecutive months and neither did some of the economists.
What I do think is if the RBA and banks do decide to increase the cash rate it won't be significant or quickly.
I do however hope 2018 sees a shift in the property prices.
With rumours of the First Home Owners Grant remaining at $20,000 and other states offering similar incentives, I can see more First Home Owners gaining the opportunity to buy in to the market.
What I do know is the cash rate will remain at 1.5percent until February 2018 when the RBA meet for the first time in 2018.
In the meantime, enjoy your Christmas with your family and friends, don't spend too much on the Credit Card and stay safe during the Festive Season.