The Board of the RBA met on the 7th of November and made a decision to increase the cash target rate by 25 points to 4.35%.
In the statement released by the RBA Governor Michele Bullock, it was noted that inflation has passed its peak but is still too high and is proving to be more persistent than anticipated.
Governor Bullock reiterated that returning inflation to target within a reasonable timeframe remains the Board’s priority. Also, that further rate rises may be necessary depending on the data and the RBAs evolving assessment of risks.
The RBA Board meet again on the 5th of December.
In this ongoing environment of rising interest rates, it is important to review your options to ensure that you are getting a good deal.
Our in-house broker Kevin Mortimer has over 25 years’ experience helping people navigate the lending landscape to achieve the best outcomes.
If you need help to review your lending options, please reach out to Kevin.
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