Interest rates remain at 4.35 per cent as Reserve Bank pushes back relief for struggling mortgage holders
In a statement, the RBA's board said higher rates were helping"establish a more sustainable balance between aggregate demand and supply in the economy," but signaled it remains concerned about the nation's outlook. "Household consumption growth remains particularly weak amid high inflation and the rise in interest rates.
The RBA is also monitoring the health of China's economy amid ongoing concerns about its potential to slow Australia's economic growth. Picture: Yang Dong/VCG via Getty Images At it's last meeting the bank said further increases in rates"cannot be ruled out," suggesting the board remained hawkish on inflation.
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