Reserve bank leaves interest rate on hold at 4.35% with borrowers left waiting for relief

Australia’s borrowers have been given another reprieve, with the Reserve Bank leaving its key interest rate on hold for a fifth consecutive board meeting but retaining the option of a further rate hike if needed.

“Inflation is easing but has been doing so more slowly than previously expected and it remains high,” it said in a statement. Mortgage holders on a typical $600,000 loan are paying back about $1450 more each month since the central bank started its cycle of 13 rate rises in May 2022, according to RateCity.with the jobless rate hovering at about 4%

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