Asked about the impact of incoming US tariffs,RBA governor Michele Bullock said inflation remained the bank’s main focus as it held interest rates steady at 4.1 per cent.
The treasurer’s fourth budget could easily have been a pre-election spendathon that stoked inflation,but the central bank chief can breathe a sigh of relief.
Membership of the RBA board and how it decides interest rates has been unknown to the public for 75 years. It’s all about to change.
We’ve deciphered the RBA governor’s comments on Tuesday,after the Reserve Bank cut rates for the first time in more than four years.
Four Sydney home loan borrowers react to the first interest rate cut in more than four years.
Yes,the Reserve Bank has finally cut rates. But the economy is really struggling. And it is still propped up by government spending.
The big four banks moved quickly to match the cut to their mortgage rates to alleviate the pain mortgage holders have been feeling since rates started rising in May 2022.
With Australia’s economic growth rate anaemic,and the consumer price index within the RBA’s target band,the case for a rate cut was compelling.
Mortgage holders and businesses are hoping for an interest rate cut on Tuesday. Anthony Albanese wants it even more.
From what’s happening in the home building sector,to the make-up of the bank’s board,the Reserve Bank has plenty to consider for a February rate cut.