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.

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 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.

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.

Do banks reward existing customers for their loyalty when applying for a new home loan?

To Fix or not to fix, that is the question. Let’s chat about whether to fix or not fix your interest rate.

APRA increases the serviceability buffer lenders use when assessing a loan.

On 6th October 2021 APRA (Australian Prudential Regulatory Authority) announced changes to the serviceability buffer banks are to use when assessing a new loan. The buffer is to increase from 2.5% to 3% from the 1st of November 2021.