Given the Reserve Bank of Australia’s (RBA) decision to keep the cash rate at 4.35%, here’s how this might influence different lending sectors in Australia: 1. Residential Lending: Home Loan Interest Rates: With the cash rate unchanged, there is likely to be stability in the interest rates for home loans, particularly variable rate loans. Read More
The Reserve Bank of Australia (RBA) has decided to maintain the cash rate target at 4.35% and the interest rate on Exchange Settlement balances at 4.25%. Key points from the meeting include: Inflation: Despite a significant decrease from its peak in 2022, underlying inflation remains high at around 3.5%, above the RBA’s target midpoint Read More
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The Board has decided to keep the cash rate target steady at 4.35%. Inflation, while lower than its 2022 peak, is still high. Over the year to September, headline inflation fell to 2.8%, largely due to decreases in fuel and electricity costs. Underlying inflation, however, stands at 3.5%, above the 2.5% midpoint target, with sustainable Read More
As of October 23, 2024, residential home loan interest rates in Australia are averaging approximately 6.15% for variable-rate loans and 5.90% for fixed-rate loans. This reflects the steady environment following the Reserve Bank of Australia’s (RBA) decision to maintain the official cash rate at 4.10%. Investment loan rates are slightly higher, with variable rates around Read More
In its latest meeting, the Reserve Bank of Australia (RBA) decided to keep the cash rate unchanged at 4.35%, and the interest rate paid on Exchange Settlement balances at 4.25%. The decision comes as inflation remains persistently high, though it has eased since its peak in 2022. Despite some progress, inflation remains above the RBA’s Read More
