The Reserve Bank of Australia (RBA) has confirmed it is lifting the cash rate for the sixth consecutive month, with another 25 basis point increase following October’s Board meeting. The cash rate has now surged to a nine-year high following a rapid 250 basis points increase in just 153 days, as the RBA battles to curb rising inflation. Philip Lowe, Governor of the Reserve Bank of Australia, …
RBA rises interest rates at their fastest pace in three decades
At their monthly meeting this afternoon, the RBA has decided to further raise its cash rate by 50 basis points, taking it from 1.85% to 2.35%, it's fastest pace in three decades. Shane Oliver, Chief Economist at AMP, told news.com.au, "They've done five hikes in a row, four consecutive 0.5 per cent increases, it's the fastest tightening cycle since 1994." On top of that, Australia's 2.35 per cent …
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RBA Hikes Cash Rate to 1.85%
At its monthly meeting today, the RBA once again has decided to raise Australia's cash rate by 50 basis points, taking it up to 1.85%, with predictions of more hikes to come over the coming months. As stated in Domain's article today, in a statement by RBA governor Philip Lowe, recent increases in interest rates were required to bring inflation back to target, while also flagging further rate …
RBA Raises Interest Rate to 1.35%
Today the RBA raised the interest rate to 1.35%, a further 50 basis points from their rise in June 2022, marking its third monthly rate rise in a row. As stated in Domain's article today, in a statement following today’s decision, Mr Lowe said inflation was expected to peak later this year before settling into the Bank’s target 2 to 3 per cent range next year as global supply issues ease and …
RBA Raises Interest Rate to 0.85%
Today's monthly interest rate meeting saw the Reserve Bank of Australia raise the current cash rate to 0.85%, returning to its highest level of since September 2019. This shock move also marks the first back-to-back rate rise in 12 years. In a statement, RBA's Governor Philip Lowe said "today's increase in the interest rates by the Board is a further step in the withdrawal of the extraordinary …
RBA announce no change to cash rate
The Reserve Bank of Australia (RBA) confirmed today, that the official cash rate will continue to remain at 0.1%. In their media release this afternoon, Governor Phillip Lowe, stated that "the Australian economy remains resilient and spending is picking up following the Omicron setback..[but]household and business balance sheets are in generally good shape". In their press release today, the …
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RBA announce interest rates steady at 0.1%
The Reserve Bank of Australia (RBA) confirmed today, that the official cash rate will continue to remain at 0.1%. In their media release this afternoon, Governor Phillip Lowe, stated that "the global economy is continuing to recover from the pandemic..[and]..the war in Ukraine is a major new source of uncertainty". The RBA also acknowledged that inflation had picked up more quickly than …
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Interest rates on hold at 0.1%
Despite inflation rising faster than expected, the Reserve Bank of Australia (RBA) confirmed today, that the official cash rate will remain on hold at 0.1%. At its first meeting for the year, the RBA confirmed that the cash rate will not be increased until inflation is sustainably within the 2 to 3 per cent target range, the labour market improves and wages increase. The RBA has …
RBA continues to hold interest rates at 0.1%
The RBA met for the final time for 2021 on Tuesday 7th December and announced that interest rates will remain on hold at 0.1%. Interest rates remain at a record low for the 13th consecutive month. In it's latest Media Release, Board Governor, Phillip Lowe, stated that the decision to keep interest rates at this record low was based on a recovering Australian economy after the setback caused by …
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RBA keeps cash rate on hold at 0.1%
The RBA has again confirmed that the official cash rate will remain on hold at a record 0.1 per cent. The Australian economy is beginning to recover after the interruption of the Delta outbreak and as various restrictions are eased around the country, we will continue to bounce back quickly. The RBA Board advised that they anticipate a GDP growth of 3 per cent over 2021 and …
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