RBA largely expected to keep cash rate on hold today

 

The Reserve Bank is widely expected to keep interest rates on hold today – relieving some of the pressure on households ahead of the Christmas holidays. A survey from Bloomberg revealed only one out of 27 economists are expecting the Reserve Bank to raise the cash rate in December. “The RBA has lifted rates aggressively since May last year – they have raised rates five times in 2023,” said Sky News Business Reporter Edward Boyd. “It’s really been a very sharp increase; the sharpest increase in decades from the central bank here.” Higher interest rates have caused Australian families to feel the pinch on their mortgage repayments as Australia experiences a cost of living crisis.