The Reserve Bank of Australia (RBA) has decided to maintain the cash rate at 4.35% during its latest meeting. This decision comes in light of the June 2024 quarter Consumer Price Index (CPI), which was reported at 3.8%, slightly lower than many analysts anticipated. Additionally, the monthly unemployment rate rose to 4.1% in June 2024, prompting the RBA to adopt a more cautious stance as it continues to monitor economic data.

Economic Predictions

Before the last meeting in June, predictions from the major banks suggested that a rate cut was unlikely before November 2024. Most economists share this view, and with inflation gradually being brought under control, there is a general prediction that the next move may be a decrease in rates.

Impact on Financial Decisions

Today's announcement highlights the importance of being informed about economic changes and how they might affect your financial situation. Whether you're looking to buy a new home, refinance your mortgage for better terms, or explore property investment opportunities, now may be a good time to reassess your financial strategy. If you'd like to discuss what today's news means for you and your finances, feel free to reach out! For more details call us on 0403 803 470.

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RBA Holds Cash Rate at 4.35% in August 2024

Economic Predictions

Impact on Financial Decisions

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RBA Holds Cash Rate at 4.35% in August 2024

Economic Predictions

Impact on Financial Decisions

All Categories

Recent Posts

How to Get a Loan for Your First Investment Home

How To Get A Low Doc Mortgage For Your Property?

10 things you must ask your broker before refinancing mortgage

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