The Reserve Bank board’s last meeting of 2017 brought no change to the official cash rate, with the record low 1.50% locked in now until the board meets again in February next year.

The result was no surprise for the majority of analysts, with predictions widely placing the next change no sooner than mid-2018.

In his statement, RBA Governor Philip Lowe said employment figures were strong, though inflation remained sluggish.

“Inflation remains low, with both CPI and underlying inflation running a little below 2 per cent. The Bank's central forecast remains for inflation to pick up gradually as the economy strengthens," he said.

As for interest rates in 2018, Mozo Data Manager Peter Marshall said the Reserve Bank will be playing the waiting game for a while still.

“If inflation, GDP, and retail sales figures don't improve the RBA could be tempted to start considering further rate cuts. However, high levels of household debt at the moment mean they will be wary of lower rates prompting people to take on even more debt,” Marshall said.

“I believe the RBA will sit on its hands as long as possible even if conditions are less than ideal. That means we're likely in for a long period with rates at current levels, with the possibility of any increases off in the distant future for now.”

No major changes for owner-occupier home loans

It’s been a quiet month for owner-occupiers, with very few changes to home loan rates. Most of the changes that did occur were very minor cuts to variable rates.

Investors on the other hand have had some good luck, with several lenders increasing LVRs on investment loans. These borrowers also benefited from a few minor rate cuts to fixed rates.

Take a look at some of the best home loan rates around below:

• Homestar Variable Rate Loan - 3.54% (comparison rate: 3.59%)
  
• Loans.com.au Essentials Variable 80 Homebuyer Special - 3.54% (comparison rate: 3.56%)
• FreedomLend Variable Home Loan - 3.54% (comparison rate: 3.55%)
• Tic:Toc Variable Home Loan - 3.58% (comparison rate: 3.59%)

Head over to our comparison table to see other top variable rate home loans.

• 1 year - 3.49% - Greater Bank (comparison rate: 4.47%)
• 2 year - 3.65% - IMB Bank (comparison rate: 4.84%)
• 3 year - 3.69% - Auswide Bank (comparison rate: 4.87%), Move (comparison rate: 3.96%)
• 4 year - 3.99% - Greater Bank (comparison rate: 4.48%)
• 5 year - 3.99% - Greater Bank (comparison rate: 4.47%) Suncorp (comparison rate: 3.88%)

Check out other fixed rate home loan options in our comparison table.

Bah humbug: Savers still down in the dumps

Aussies trying to build up a rainy day fund have been struggling with low rates for a while now and things aren’t looking much brighter this month. Although there were only a handful of changes to both savings account and term deposit rates, nearly all of them were decreases.

But it’s not all storm clouds for savers. For those who know where to look, there are still a few market leaders offering returns of up to 3.00%.

Check out some of the top offers below:

• AMP Bett3r Save Account - 3.00% (with a minimum deposit of $2,000 per month into linked Bett3r Pay Account)
• ME Online Savings Account - 2.95% (when you make a weekly Tap & Go purchase with your ME Everyday Transaction Account Debit MasterCard)
• UBank USaver - 2.87% (with a minimum deposit of at least $200 per month to linked transaction account)
• Australian Unity Active Saver - 2.80% (with a minimum deposit of $250 and no withdrawals in the month)
• RAMS Saver Account - 2.80% (with a minimum deposit of $200 and no withdrawals in the month)

Check out our savings account comparison table to find other high interest options.

• 1 year - 2.80% - Police Bank, ME
• 2 year - 2.90% - Police Bank, QBANK
• 3 year - 3.10% - QBANK
• 4 year - 3.15% - RaboDirect
• 5 year - 3.25% - RaboDirect

Check out other great term deposit options with our term deposit search tool.