Should I refinance in 2024?
Australians refinanced at record levels in 2023, which was understandable. There’s nothing like being slugged with hundreds or even thousands of dollars extra a month in interest repayments for getting you engaged with your finances. Many borrowers had been lulled into a state of complacency because, until early 2022, it had been more than […]
RBA Cash Rate Announcement – November 2022
RBA governor Philip Lowe forewarned another rate rise would be necessary after the latest inflation figures remained stubbornly high. And today, the central bank was true to his word, hiking by 25 basis points to see the new cash rate sit at 2.85%. Lowe said inflation in Australia is too high, registering 7.3% over the […]
RBA Cash Rate Announcement – October 2022
The RBA has hiked the cash rate again in October, though this time it took the foot of the throttle slightly and hiked by 25 basis points instead of 50, to now sit at 2.6%. Many analysts had been anticipating the full 50 point rise, especially on the back of the latest inflation figures, so […]
RBA Cash Rate Announcement – September 2022
Variable rate mortgage holders are in for more pain after the RBA raised the cash rate by another 50 basis points at its September meeting today. The cash rate now sits at 2.35%, which is its highest level since the beginning of 2015. RBA Governor Philip Lowe said that the outlook for global economic growth […]
RBA’s April 2022 decision
The RBA opted to hold the official cash rate at 0.1% at today’s monthly meeting, which came as little surprise as Australia waits for an election to be called. However, the central bank boss again flagged that changing economic conditions could see an interest rate hike in the near future. “Inflation has increased sharply in […]
RBA’s First Meeting of 2022
The RBA board voted to leave the official cash rate on hold today, at its first meeting for the year. The decision failed to surprise experts, though a growing number of economists are firming in the belief that the central bank will be forced to hike rates at least once this year; well earlier than […]
RBA Announcement December 2021
There were no Christmas surprises today as the RBA elected to leave the cash rate unchanged at 0.1% at its last meeting until February next year. After RBA Governor Philip Lowe sought to hose down rate rise speculation following the November board meeting, a movement today was never going to be on the cards. Bank […]
RBA Announcement November 2021
It’s all about the number ‘1’ this month for the RBA, after it left rates on hold yet again at its November meeting. It’s now 1 year since the official cash rate was last changed…and 11 years since the rate was last increased. Meanwhile, there are now more than 200 home loan product rates that […]
RBA Announcement October 2021
There were no surprises today as the RBA voted to keep rates on hold at 0.1% at its October meeting. The central bank also decided to maintain the target of 10 basis points for the April 2024 Australian Government Bond and continue purchasing government securities at $4 billion a week until at least February next […]
RBA Announcement September 2021
The RBA left the cash rate on hold at 0.1% at its September meeting, surprising no one.. The central bank has been telling everyone for some time now that it won’t consider a rate rise until at least 2024, even though some analysts are predicting it will hike earlier than this. And it also remains […]
