Borrowers disappointed as hopes of RBA rate cuts diminish | ABC NEWS | The Business
The Reserve Bank has left interest rates on hold at 3.6 per cent after lowering them three times this year, from a peak of 4.35 per cent before February’s board meeting. In her post-meeting press conference, RBA governor Michele Bullock said the central bank was wary of any uptick in inflation and was taking a cautious approach. The Reserve Bank says rising house prices and a surge in borrowing are signs that existing interest cuts are already working even though their full effect won’t be felt for months to come. Some economists think the RBA won’t lower rates again until 2026. Richard Whitten, the senior money editor of Finder, says most mortgage borrowers with variable loans should already be on an interest rate of 5.5 per cent or less.
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