Reserve Bank hands borrowers a reprieve by leaving interest rates on hold

abc.net.au/news/interest-rates-on-hold-reserve-bank/102185138The Reserve Bank has given mortgage borrowers a reprieve, at least temporarily, by leaving interest rates on hold at today's board meeting.The cash rate target remains at 3.6 per centAfter 10 consecutive rate rises, the RBA opted to wait and see how the economic data plays out, amid early signs that the increase in rates so far is starting to weigh on consumer spending and lower inflation.

"The board expects that some further tightening of monetary policy may well be needed to ensure that inflation returns to target," he said in his post-meeting statement. Today's decision leaves the RBA's cash rate target at 3.6 per cent, which is still the highest level since May 2012.

Keyword: “on hold” 🤡

My interest rates have increased $3k since I got my house in June 22. My monthly repayments are also up $3k a month & I've more increases to come given the bank staggers the changes 😭 We need more than a month's pause to give the economy & us time to absorb all the increases

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Still don't see why we can't increase mandatory superannuation contributions to take money out of the economy instead of increasing rates. One leaves money for people later, one increases rates paid to banks for housing read auspol

I knew the Ponzi would be protected at all costs.

Is Albo the reason for the cash rate being on hold

The market is still high. So people has a back pocket it sounds like. Housing market will sky rocket…. Hope not.

RBAs decision to keep rates on hold reflects the difficult situation facing Aussie families. Many will be asking how they can afford: 💵- mortgage payments 🫕- dinner for the family 🔥- heating this winter. bRightAgent_Aus is helping as many as people as we can!

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