After over a decade of cutting the cash rate, the Reserve Bank of Australia (RBA) has been increasing rates almost every month since April 2022. Homeowners and would-be borrowers may be nervously wondering how high their home loan rates will go.
The Reserve Bank’s continuing push with interest rate hikes has brought into focus the dilemma that borrowers now face in choosing their home loans.
The Reserve Bank of Australia has delivered its final cash rate announcement for the year with the decision to leave the rate unchanged at 0.75%.
In making the decision the RBA appears to be assessing the impact on the broader economy of the three previous cash rate reductions together with recent tax cuts, government spending on infrastructure and signs of improvement in the resources sector.
The RBA has decided to leave the official cash rate unchanged at 0.75% as it assesses the impact of its June, July and October cuts.
For the 3rd time in five months the Reserve Bank of Australia has decided to reduce the official cash rate, this time to 0.75%, in a concentrated effort to boost the economy.
The RBA has decided to leave the official cash rate unchanged at 1% as it continues to assess the impact of its June and July cuts. In making this decision not to drop rates again the RBA will have considered emerging evidence of an improving housing market, supported by strong auction clearance rates in Sydney and Melbourne.