Interest Rates have finally dropped to 5.75 Variable and 5.49% Fixed 2 yrs. Can my mortgage broker secure this deal for me?

At its monetary policy meeting, the Reserve Bank of Australia (RBA) Board decided to leave the cash rate target unchanged at 4.35 % and the interest rate paid on Exchange Settlement balances unchanged at 4.25 % . The three key takeaways from the September 24th meeting remain unchanged.

1. Inflation remains above target and is proving persistent.

2. The outlook remains highly uncertain.

3. Returning inflation to target is the RBA’s priority.

Let’s unpack each of the key points from the media release.

Reserve Bank Australia Holds the Cash rate at 4.35%

At its meeting today, the Board of the Reserve Bank of Australia decided to leave the cash rate target unchanged at 4.35 per cent, indicating stubbornness in the inflation to remain higher than the target forecast. In monetary policy, the board also decided to maintain the interest rate paid on Exchange Settlement balances at 4.25 percent, reflecting a cautious approach to financial conditions in the current economic environment.

What are the key points of today’s RBA Monetary Decision?

• Inflation remains above target and is proving persistent.

• The outlook remains highly uncertain.

• Returning inflation to target is the priority.

Reserve Bank of Australia holds the cash rate at 4.35%.

Reserve Bank of Australia decided to hold cash rates at 4.10% for three consecutive months.

In the September meeting, the Reserve Bank of Australia maintained the cash rates at 4.10%. This marks the third consecutive month the cash rate has remained at this level.

Australians are reaching the top of the interest rate cycle, with the Reserve Bank of Australia holding the cash rate for the 3rd time in 5 months at a cash rate of 4.10%. This comes after 12 out of 13 months of interest rate rises since May 2022.

At its meeting today, the Reserve Bank of Australia Board decided to increase the cash rate target by 25 basis points to 3.85 per cent. It was expressed that inflation in Australia has passed its peak, but at 7 per cent is regarded to be too high, and it will take time to be back in the target range. Therefore, the Board decided a further increase in interest rates was warranted today

Reserve Bank Australia holds Cash rate target of 3.6%

Reserve Bank of Australia (RBA) at its Board meeting today, decided to leave the cash rate target unchanged at 3.60 per cent and the interest rate on Exchange Settlement balances unchanged at 3.50 per cent.

Reserve Bank Australia (RBA) March Monetary Policy Meeting.

RBA Board, during its Monetary Policy meeting today decided to increase the cash rate target by 25 basis points to 3.60 per cent. This is the tenth consecutive increase since May 2022

The Reserve Bank of Australia (RBA) met on the 8th of February 2023 to determine the Cash Rate for unsecured overnight loans for banks, which impacts the interest rates passed onto the mortgage home loans for Australians.

Reserve Bank Australia 6 December 2022 Media Release 2022-41

At the Reserve Bank of Australia meeting on the 6th of December 2022, the Board decided to increase the cash rate target by 25 basis points to 3.10 per cent. It also increased the interest rate on Exchange Settlement balances by 25 basis points to 3.00 per cent.

Reserve Bank of Australia increases the Cash Rate .25% from 2.35% to 2.6%

As I sat and watched the ABC news on the 19th January 2022, an interesting report came on about the reserve bank raising interest rates later in 2022.

Bear in mind that earlier in the news, the ABC had just reported on the number of deaths, hospitalisation, and new cases of Omicron, the numbers for deaths and hospitalisation were the highest Australia had seen since the pandemic.