The Reserve Bank of Australia (RBA) held its second meeting of 2024, leaving the official cash rate at 4.35%. The Board decided to maintain the cash rate target at 4.35% and the interest rate for Exchange Settlement balances at 4.25%. Inflation is moderating but remains high, driven by elevated services inflation and strong domestic cost Read More
Yesterday, 6th February 2024, the Reserve Bank of Australia (RBA) conducted its initial meeting of the year and opted to maintain the official cash rate at 4.35%. Looking ahead to the rest of 2024, there is a prevailing sense of uncertainty, particularly with the anticipation of a potential slowdown in economic growth. Notably, the Consumer Read More
The Reserve Bank of Australia has increased interest rates by 0.50% again for the second month in a row bring the cash rate to 1.35%. The RBA cited a number of events that are contributing to inflation and these include COVID-19, global supply chain issues, the Ukraine / Russia war and the floods are also Read More
Since the Reserve Bank of Australia increased interest rates by 0.25% we have seen most lenders increase their variable interest rates by o.25%. Fixed rates across the board have increase from 0.50% to 1.25%. This includes home, investment and SMSF loans. It is clear that most lenders see an increase in variable rates over the Read More
At its monthly meeting today, the Reserve Bank has decided to increase the official cash rate from 0.10% to 0.35%. This is the first interest rate rise in more than 10 years. An increase in rates has been highly anticipated following the release of higher than expected inflation figures last week. There was Read More
December 2nd saw the Reserve Bank of Australia cut interest rates by another 1%. To the Australian consumer it means a reduction in their variable loan repayments but the full interest rate cut will only be passed on by a few lenders. In a swift decision, Commonwealth Bank and NAB decided to pass on the Read More
