"Rate Relief for Homeowners as RBA Holds Interest Rate: But Warning Signs Ahead In a move that was widely anticipated by economists and financial markets, the Reserve Bank of Australia has decided to hold the official cash rate at 4.35%, ending a series of three interest rate hikes earlier this year. The decision brings temporary relief to Australian homeowners, who have seen property values plummet in recent months. However, the RBA has sounded a note of caution, warning that higher interest rates could still be on the horizon, even if house prices continue to fall. This decision will be closely watched by those in the property market, who are waiting to see how the RBA's stance will impact the already fragile housing market."
In a widely expected decision, the Reserve Bank of Australia holds interest rate after three hikes earlier this yearFollow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastThe Reserve Bank of Australia has held the official cash rate at 4.35% but warned higher interest rates are “quite possible” even if house prices keep falling.Tuesday’s decision to hold was predicted by economists and financial markets, after three rate rises this year hit property values across the capital cities. Continue reading...
