As was widely expected, the RBA decided to keep the official cash rate at 3.60% today as they take time to assess the impact of previous rate increases on the economy.
However, the board’s priority is still to return inflation to target, and further tightening of monetary policy may be needed to achieve this. When, and by how much, rates will need to increase will depend on developments in the global economy, trends in household spending, and the outlook for the labour market.
Unsurprisingly, refinances have soared to record levels recently as borrowers begin to feel the pinch of rate rises and cost of living increases. We have access to a wide range of lenders and loan products and would love to help you and your loved ones find a better solution.
Your options may include attractive cashback offers, discounts, restructuring of loan terms, and/or debt consolidation. Our experienced Lending Specialists are available to provide guidance and answer any questions you may have. Lock in a chat here >
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