There was no pre-Christmas goodwill for mortgage holders today, as the Reserve Bank of Australia announced its decision to leave the cash rate unchanged at 4.35%.
The key reasons given for today’s decision can be summarised – or reiterated – in three main points:
- Underlying inflation remains too high.
- The economic outlook remains uncertain.
- Sustainably returning inflation to target is the priority.
Status quo for now, but experts predict a drop in interest rates next year, although we may have to wait until mid-year to see it.
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