7NEWS brings you the latest local news from Australia and around the world. Stay up to date with all of the breaking sport, politics, entertainment, finance, weather and business headlines. Today's news, live updates & all the latest breaking stories from 7NEWS.
Homeowners hoping for interest rate relief ahead of the busy Christmas season have been left disappointed, as the Reserve Bank of Australia held the cash rate on Tuesday. In Tuesday’s decision, the RBA held rates again at 4.35 per cent for the eighth time in a row. The cash rate has remained at a 12-year high since the most recent hike last November.
However, underlying or “trimmed” inflation is a measure of inflation without temporary price spikes and gives a truer indication of inflationary pressures and the ABS reported for the September quarter it was sitting at 3.5 per cent, although that figure was down from 4 per cent in the June quarter. Some 38 economists were surveyed by Finder in the lead-up to the meeting, all of whom forecast the cash rate to remain steady in November.
Business Finance Business Housing Business Interest Rates
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Reserve Bank of Australia Governor Michele Bullock secures $100,000 pay rise, annual report shows7NEWS brings you the latest local news from Australia and around the world. Stay up to date with all of the breaking sport, politics, entertainment, finance, weather and business headlines. Today's news, live updates & all the latest breaking stories from 7NEWS.
Read more »
Inflation: Reserve Bank of Australia’s take masks the risks posed by fragile consumersThe RBA’s latest financial stability review suggests businesses are holding up pretty well. But appearances can be deceiving.
Read more »
There’s your inflation rate – then there’s the Reserve Bank’s rateThe official measure of inflation, at 2.8 per cent, should force a cut in interest rates. But the Reserve Bank is tracking its own inflation measure.
Read more »
There’s your inflation rate – then there’s the Reserve Bank’s rateThe official measure of inflation, at 2.8 per cent, should force a cut in interest rates. But the Reserve Bank is tracking its own inflation measure.
Read more »
Reserve Bank’s COVID losses hit $51 billion – and keep growingThe Reserve Bank is facing a sea of red ink that will affect its operation and the federal budget bottom line for years.
Read more »
Would banks use Reserve Bank rate cuts to claw back a bit extra from savers?Savers beware: some analysts think that when interest rates fall, banks will try to cut rates on savings accounts by more than the RBA’s reductions.
Read more »