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It’s the news homeowners had been hoping for – The Reserve Bank of Australia left the cash rate on hold this month at 4.10 per cent.
Homeowners breathe a sigh of relief
It’s the news homeowners had been hoping for – The Reserve Bank of Australia left the cash rate on hold this month at 4.10 per cent. The decision comes hot on the heels o... Continued
The Reserve Bank of Australia (RBA) increased the official cash rate by 25 basis points to 4.10% at the last meeting of this financial year.
Official Cash Rate Increased To 4.10% Today
The Reserve Bank of Australia (RBA) increased the official cash rate by 25 basis points to 4.10% at the last meeting of this financial year. The RBA has increased interes... Continued
The Markets may have pointed to the RBA holding rates, but the board decided to increase by another 25 bsp.
Why?
Well, although inflation in Australia is past its peak, it’s still too high at 7% compared to its target range of 2-3%. With the unemployment rate at a near 50-year low, there is still some likelihood that wage growth will accelerate and make it more difficult to bring inflation under control. If inflation cannot be reduced in a timely manner, there is an elevated risk of economic damage over the longer term.
Will rates increase again?
While the RBA now looks likely to hit the pause button, further policy tightening may be required to ensure inflation returns to target.
For the foreseeable future, strong migration inflows should help the economy to continue growing. However, household consumption is uncertain due to higher debt servicing obligations and cost of living pressures. There is also a lot of talk about rates starting to come down again from November this year – we’ll keep you up to date in the coming months as things continue to develop.
The Cash Rate Increased to 3.85% – Will we see more hikes?
The Markets may have pointed to the RBA holding rates, but the board decided to increase by another 25 bsp. Why? Well, although inflation in Australia is past its peak, i... Continued
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.
Rates On Hold – For Now
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. Ho... Continued
Our Home Loan Calculators
We have a range of calculators below, designed to help make things a little clearer for you before reaching out to our lending specialists.
Please note, these are a guide only and do not take your individual circumstances or property details into account.
Our team is more than happy to help you with any calculations and discuss your future lending needs.
Three useful loan calculators
Our Home Loan Calculators We have a range of calculators below, designed to help make things a little clearer for you before reaching out to our lending specialists. Plea... Continued
The RBA has increased the cash rate to 3.60 per cent. If you have a home loan, here’s what you need to know:
- The Board has decided to increase the cash rate by .25% and most lenders are expected to follow suit.
- Global inflation remains very high, but it is expected to moderate over time.
- Growth in the Australian economy has slowed and is expected to be below trend in the coming years.
- In contrast, the outlook for business investment remains positive.
- The labour market remains tight, with low unemployment rates and increasing wages. However, the RBA remains alert to the risk of a price-wages spiral.
- The Board’s priority is to return inflation to target while keeping the economy stable.
- It’s likely that further tightening of monetary policy will be needed to achieve this goal.
- The RBA will closely monitor developments in the global economy, household spending, inflation, and the labour market when making future decisions about interest rates.
We understand that rising interest rates will have an impact on your household spending and budget. While some households have savings they are trying to preserve, others may be experiencing a real financial squeeze. As lending specialists, we can help you understand the impact of these changes on your cash flow and find ways to manage your repayments.
The RBA has increased the cash rate by .25%
The RBA has increased the cash rate to 3.60 per cent. If you have a home loan, here’s what you need to know: The Board has decided to increase the cash rate by .25% and m... Continued