05/12/2023
The RBA have kept rates on hold!
RBA governor Michelle Bullock advised:
"Holding the cash rate steady at this meeting will allow time to assess the impact of the increases in interest rates on demand, inflation and the labour market."
This will allow the previous rate rises to filter throughout the economy.
Inflation will continue to reduce slowly, just how slowly will be the concern for homeowners. If it is slower than expected we will be in for another rate rise in Feb 2024.