The Reserve Bank of Australia (RBA) has decided to keep interest rates on hold at 4.35 per cent, but has not ruled out a possible rate hike in the future. The new RBA governor, Michele Bullock, stated that inflation remained high and that more rate rises could be necessary.
Borrowers could enjoy an interest rate cut in December if quarterly assumptions from the central bank play out. But the new governor of the Reserve Bank of Australia (RBA) Michele Bullock, is not ruling anything in or out — including a possible rate hike this year too. The RBA kept rates on hold at 4.35 per cent on Tuesday after the board's first cash rate meeting for 2024. In its statement on Tuesday, the board said inflation remained still too high at 4.
1 per cent and that it could not rule out a further increase in interest rates. 'We're not ruling in or out anything,' Bullock told reporters in a press conference following the decision. 'We have maintained the option that it might be that there has to be more rate rises, but there might not be either.' Bullock said she understood borrowers were 'sweating on this' but the bigger issue was inflation. 'The fact that inflation is so high in so many parts of their lives at the moment is what's really hurting them
Reserve Bank Of Australia Interest Rates Rate Hike Inflation Borrowers