๐ฅ๐๐ ๐ง๐ถ๐ฝ๐ฝ๐ฒ๐ฑ ๐๐ผ ๐๐ฒ๐ฎ๐๐ฒ ๐ฅ๐ฎ๐๐ฒ๐ ๐ผ๐ป ๐๐ผ๐น๐ฑ ๐ฎ๐ ๐๐ป๐ณ๐น๐ฎ๐๐ถ๐ผ๐ป ๐๐ฎ๐น๐น๐
In good news for interest rates, inflation has fallen yet again, declining from 5.4% in June to 4.9% in July, according to the Australian Bureau of Statistics.
That's the sixth fall in seven months and a big improvement on the 8.4% inflation recorded in December.
The reason this is positive for interest rates is because the reason the Reserve Bank of Australia (RBA) has been increasing the cash rate is to reduce demand in the economy โ and thereby reduce inflation.
While inflation remains above the RBA's target of 2-3%, if the RBA believes we're on track to achieve it, there may be no further need to raise interest rates.
The RBA's next monetary policy meeting will be held on September 5. Most commentators expect the RBA to leave the cash rate on hold, for the third consecutive month.
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.
