The cash rate remains at 4.35 percent

The cash rate remains at 4.35 percent

Due to the Reserve Bank of Australia’s (RBA) decision to maintain the cash rate at 4.35 percent at today’s meeting, homeowners were fortunate on this Melbourne Cup Day.

 

Visit the RBA’s website to read the official statement released today. On December 9–10, the RBA board will hold its final meeting of the year.

The cash rate remains at 4.35 percent.
Following encouraging inflation data findings, homeowners who had hoped that the RBA would extend its run of cash rate holds until Christmas have had their desire fulfilled.

 

In September, Australia’s inflation rate dropped to its lowest level in 3.5 years. The Consumer Price Index (CPI) increased by 0.2% this quarter, according to the most recent data from the Australian Bureau of Statistics.

 

The September quarter’s annual CPI inflation was 2.8%, a substantial decrease from the June quarter’s 3.8%. This was mostly caused by lower energy and car fuel prices (owing to Energy Bill Relief Fund refunds).

 

According to a recent RBA announcement, headline inflation is still trending lower, but underlying inflation is still there.

 

“Until the Board is satisfied that inflation is moving sustainably towards the target range, policy will need to be sufficiently restrictive.”

 

It appears that a cash rate cut is most likely to occur in February or April of next year.

 

Chat with us to analyze your home loan and see if you could be receiving a better interest rate elsewhere.

 

In order to advance more quickly, you can also be able to move to a loan with interest-saving features.

 

Contact us now to discuss your options.

A snapshot of the real estate market
Every residence
Auctions and the rate of clearance
Individual sale
Changes in property values each month
VIC
481 out of 55%
1297
▼ 0.2%
NSW
1196 out of 48
1593
▼ 0.1%
ACT
81 out of 51
114
▼ 0.3%
Queensland
252 or 38%
1061
▲ 0.7%
WA
6 out of 33
611.
1.4%
NT
6 out of 83%
30
1.0%
TAS
0 / —
154
▼ 0.8%
SA
151 out of 64 percent
275
1.1%
Are you having trouble figuring out what this announcement means to you? Get in touch with us now.

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