๐ฅ๐๐ ๐๐๐ผ๐ฝ๐ ๐ฟ๐ฎ๐ถ๐๐ถ๐ป๐ด ๐ฟ๐ฎ๐๐ฒ๐ โ ๐ณ๐ผ๐ฟ ๐ป๐ผ๐
The Reserve Bank of Australia has left the cash rate at 3.60%, ending a streak of 10 consecutive rate rises.
However, the RBA signalled that at least one more rate rise lies ahead, as it aims to reduce inflation from its current level of 6.8% to its target range of 2-3%.
"The Board expects that some further tightening of monetary policy may well be needed to ensure that inflation returns to target," RBA governor Philip Lowe said in a statement.
"The decision to hold interest rates steady this month provides the Board with more time to assess the state of the economy and the outlook, in an environment of considerable uncertainty.
"In assessing when and how much further interest rates need to increase, the Board will be paying close attention to developments in the global economy, trends in household spending and the outlook for inflation and the labour market.
"The Board remains resolute in its determination to return inflation to target and will do what is necessary to achieve that."
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.
