Reserve Bank Announcements

Reserve Bank Decided to Keep The Cash Rate at 4.35%.

 

Reserve Bank Announcement Febuary 2024

In its first meeting of 2024 today, the Reserve Bank of Australia (RBA) has chosen to hold the cash rate steady at 4.35%.

This decision aligns with expectations, as inflation has decreased to 4.1% for the December Quarter, falling short of the RBA’s earlier forecast of 4.5% in November.

The observed inflation rate is notably lower than the RBA’s November projection, indicating that the 13 rate hikes since May 2022 have had a more significant impact on the economy than initially anticipated.

As a result, many market analysts now anticipate a downward adjustment in the RBA’s cash rate in the near future. However, it’s important to recognize that uncertainties persist, and inflationary pressures remain within the economy.

Considering the decision to maintain the interest rate, seeking advice from a financial expert regarding your specific circumstances and potential options could be advantageous. Please don’t hesitate to contact me if you’d like to explore your situation further.

Kind Regards

Desmond Morgan

Reserve Bank Announcement Decemeber 2023

Final Monetary Policy for 2023

In its final monetary policy decision for the year, the Reserve Bank of Australia (RBA) maintained the cash rate at December’s board meeting.
This choice aligns with recent data from the Australian Bureau of Statistics, indicating a notable decrease in annual inflation from 5.6% to 4.9% in October, primarily attributed to higher interest rates cooling the economy.

Interest Rates On Hold But With Caution

Despite the significant drop from the December 2022 peak of 8.4%, RBA governor Michele Bullock has cautioned that domestic inflation is proving more persistent than initially anticipated, suggesting that challenges may still lie ahead.

Given the current uncertainty in the interest rate landscape, seeking advice from an expert can provide valuable insights. Feel free to reach out if you’d like to discuss your situation and explore potential options.
Explore Home Loan Assistance

In its final monetary policy decision for the year, the Reserve Bank of Australia (RBA) maintained the cash rate at December board meeting.

This choice aligns with recent data from the Australian Bureau of Statistics, indicating a notable decrease in annual inflation from 5.6% to 4.9% in October, primarily attributed to higher interest rates cooling the economy.

Despite the significant drop from the December 2022 peak of 8.4%, RBA governor Michele Bullock has cautioned that domestic inflation is proving more persistent than initially anticipated, suggesting that challenges may still lie ahead.

However, with the RBA deciding to leave the interest rate unchanged at this meeting due to inflation showing signs of slowing down, begs the question, what will they do with rates at the next meeting in February 2024.

It is important to Seek Advice from an Expert Mortgage Broker

Given the current uncertainty in the interest rate landscape, seeking advice from an expert can provide valuable insights. Feel free to reach out if you’d like to discuss your situation and explore potential options.

 

Morgage Kardinya