The Reserve Bank has announced interest rates will remain on hold at a historic low of 0.10 per cent.

There were predictions of an interest rate hike earlier this month.

But finance guru Scott Haywood says he believes it’s unlikely we’ll see a rate rise this year.

“Because the share market has gone up so sharply … that suggests there is not going to be an interest rate rise in Australia this year,” he told Sofie Formica.

“That has been talked about over the last few weeks, but there was absolutely no foundations at all that there would be any interest rate increase in the commentary that just came out.”

Press PLAY below to hear his wrap-up of finance

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