Interest rates didn’t decrease today as many mortgage holders hoped, but neither did they rise.
Around the world central banks are beginning to cut their interest rates, but the Reserve Bank of Australia (RBA) left the cash rate on hold at 4.35 per cent. The reason given for the decision by the RBA Board is that while inflation is easing, it is doing so at a slower rate than previously expected, and it remains higher than the RBA would like.
Economists suggest interest rate cuts may come later this year or in early 2025, and say they are not surprised by the RBA’s decision today.
Until inflation reaches a sustainable point within the RBA’s target range, it seems the path interest rates will take remains uncertain.
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