Low Angle Shot Tall Business Building With Blue Cloudy Sky Min

๐—ฅ๐—•๐—” ๐—ง๐—ถ๐—ด๐—ต๐˜๐—ฒ๐—ป๐˜€ ๐— ๐—ผ๐—ป๐—ฒ๐˜๐—ฎ๐—ฟ๐˜† ๐—ฃ๐—ผ๐—น๐—ถ๐—ฐ๐˜†

The Reserve Bank of Australia (RBA) has increased the cash rate from 4.10% to 4.35% (see graph), after previously leaving it on hold for four consecutive months.

In a statement announcing the decision, RBA governor Michele Bullock said the aim of the rate rise was to cool the economy, and thereby reduce inflation (currently 5.6%) to its target range of 2-3%.

Governor Bullock said that while inflation โ€œhas passed its peakโ€ (after reaching 8.4% in December) it was โ€œstill too high and is proving more persistent than expected a few months agoโ€.

As a result, โ€œan increase in interest rates was warranted today to be more assured that inflation would return to target in a reasonable timeframeโ€.

Subiaco finance brokers are here to help

Interest rate rises are here, but you donโ€™t have to fear with the right broker on your side.

The team at Sonam Capital are here to empower you through financial knowledge. Weโ€™ll 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.

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