RBA keeps cash rate steady amid stubborn inflation and an economy that has all but stalled
Australia’s borrowers have been given another reprieve, with the Reserve Bank leaving its key interest rate on hold for a fifth consecutive board meeting but retaining the option of a further rate hike if needed.
“Inflation is easing but has been doing so more slowly than previously expected and it remains high,” it said in a statement. Mortgage holders on a typical $600,000 loan are paying back about $1450 more each month since the central bank started its cycle of 13 rate rises in May 2022, according to RateCity.with the jobless rate hovering at about 4%
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