Today's announcement by the RBA Board sees the cash rate remain at 4.10% despite inflation still sitting above the target and the monthly CPI increasing to 5.2% in August, up from 4.9% in July. In her statement today, incoming Reserve Bank Governor Michele Bullock suggested the full effect of previous rate hikes on our economy are yet to be seen, so while the conditions aren't perfect the RBA …
RBA Holds Interest Rates Steady
Today's decision by the RBA to leave the cash rate unchanged at 4.10% eases the pressure on mortgage holders for the third consecutive month. Reserve Bank Governor Philip Lowe said inflation has passed its peak as the monthly CPI indicator continues to decline. Mr Lowe advised that the Board remains committed to lowering inflation and will continue to pay close attention to the global economy, …
RBA Leaves Interest Rates On Hold
Mortgage holders breathed a sigh of relief today as the RBA announced its decision to leave interest rates on hold for what is only the second consecutive month since May 2022. Providing welcome respite from the past year's relentless interest rate rises, the Reserve Bank Governor Philip Lowe said the decision gives the Board time to assess the state of the economy as inflation begins to …
RBA Leaves Interest Rates On Hold
The RBA has left interest rates on hold at 4.1% but hasn't ruled out the possibility of more hikes to come. In a temporary reprieve from a long string of interest rate rises, Reserve Bank Governor Philip Lowe says today's decision gives the Board time to further assess the state of the economy. ABC news reports, "the board remains resolute in its determination to return inflation to …
RBA hikes rates again
We've not seen interest rates this high since 2012, but the RBA has raised them once again this month by 0.25 of a percentage point, with official interest rates now at 4.1%. The bank's board decided to lift the cash rate target for the second month in a row, amid concerns inflation is taking too long to come down. Reserve Bank governor Philip Lowe again sounded a warning about the rising …
RBA’s latest interest rate hike catches banks and borrowers by surprise
The Reserve Bank of Australia (RBA) has shocked borrowers and financial markets by resuming interest rate rises after a one-off pause last month. It has lifted its cash rate target from 3.6 to 3.85 per cent, marking the 11th increase in the space of a year. How could it come up with that decision given what it said in April and the new data we have seen since then? Last month, when the RBA …
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Interest rates on hold for April
Homeowners across Australia will be feeling a sigh of relief, as the RBA announces it has kept the interest rates on hold at 3.6% after today's monthly meeting. Mortgage rates are to be put on hold for the first time since May last year, which is a major boost for homeowners. After an historic 10 rises in a row, the cash rate will now stay at 3.6 per cent for at least another …
RBA announces its 10th rate rise
Reserve Bank Governor Philip Lowe has issued a grim update on Australia’s battle with rampant inflation, after the RBA lifted rates for a tenth consecutive time to 3.6 per cent on Tuesday. The expected 25 basis rise was confirmed after the Reserve Bank board met on Tuesday afternoon, with the cash rate at its highest since June 2012. Mr Lowe flagged more “tightening of monetary policy will …
Ninth Consecutive Interest Rate Rise
Australia’s central bank has slugged borrowers with another increase in interest rates, extending the record run of hikes to nine meetings in a row as it tries to cut inflation, and indicating there are “further increases” to come. The Reserve Bank at its first board meeting of 2023 on Tuesday raised its cash rate 25 basis points to 3.35%, its highest level in just over a decade. Most …
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RBA has raised interest rates again at the final 2022 meeting
The Reserve Bank of Australia has hiked rates for the eighth time this year at its final board meeting for 2022 - announcing a 25 basis point increase to take the official cash rate to 3.10 per cent. Announcing the latest rise, RBA governor Philip Lowe said that high inflation figures were still weighing on the board's mind and that inflation figures were still far too high for the bank to …
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