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.
The Reserve Bank of Australia decided to once again leave the official cash rate unchanged at 1.5%, with the last rate move back in August 2016. Here are our thoughts on why the Reserve Bank of Australia has made this decision.