🇦🇺 No Rate Relief Yet: RBA Keeps Pressure on Inflation
Australia's Reserve Bank (RBA) hit pause on rate hikes this week, leaving its cash rate at 4.35% – a 12-year high – but warned households and businesses to brace for possible future increases. The decision, widely expected by markets, comes as stubborn inflation continues to hover above the RBA's 2-3% target range.
✋ Why the Hold?
While November's 0.25% hike still stings wallets, the RBA says it's taking a 'wait-and-see' approach after recent data showed inflation cooling slightly. But Governor Michele Bullock emphasized: 'We're not ruling anything out.' Analysts suggest another hike could land by mid-2024 if consumer prices don't chill faster.
💼 What This Means for You
Mortgage holders: No immediate repayment increases (phew!)
With housing prices still soaring and global economic uncertainty, all eyes are now on March's inflation data. Will Australia's cost-of-living crisis ease? Stay tuned. 📈👀
