May 2023

RBA DECIDED TO RAISE THE CASH RATE AGAIN!

At its meeting today, the Board decided to increase the cash rate to 3.85%

The Governor of the RBA, Philip Lowe’s statement is available in full CLICK HERE

This is definitely not what the majority of economists were thinking that the RBA would do.

Although inflation has passed its peak, at 7% it is still too high, so the Board decided that a further increase in interest rates was warranted.

Not what mortgage holders wanted to hear.

Please reach out if you need some advice about your current home loan.

Until next time…