Interest rates remain on hold
Good news for borrowers across Australia, the RBA decided to keep the cash rate on hold at 4.35%. This rate has remained unchanged since November 2023. The RBA has determined that the current inflation levels are manageable. Although the inflation figures for Quarter 2 did not meet the 2-3% target, they did not rise as high as originally expected. The RBA mentioned that inflation has decreased significantly since the peak in 2022, and the higher interest rates have been effective in bringing demand and supply closer to a balance.
