๐๐ฐ๐ผ๐ป๐ผ๐บ๐ถ๐ฐ ๐๐ฟ๐ผ๐๐๐ต ๐ฆ๐น๐ผ๐๐
The Reserve Bank wants to crush inflation. To do so, itโs been raising the cash rate to slow the economy. New data suggests this tightening is having an effect.
Australiaโs economy grew by just 0.2% in the March quarter, according to the Australian Bureau of Statistics.
That compares to โgross domestic productโ increases of 0.6%, 0.8%, 0.6% and 0.6% in the previous four quarters.
If the Reserve Bank pushes up interest rates even more, that may cause the economy to grow at an even slower rate โ or even go backwards. But the Reserve Bank may feel thatโs the only way it can reduce inflation (currently 6.8%) to its target range of 2-3%.
Subiaco finance brokers are here to help
Interest rate rises are here, but you donโt have to fear with the right broker on your side.
The team at Sonam Capital are here to empower you through financial knowledge. Weโll take the time to get to know you and your unique situation and speak in a language you can understand, with strategies you can implement for the best possible outcomes.
Nick, Wayne and Amanda at Sonam Capital are your Subiaco finance specialists.
