RBA keeps rates on hold as Aussies wrestle with cost of living pressures
Interest rates have been kept on hold for a third successive month as households struggle with cost of living pressures but the prospects of an imminent cut to the official cash rate appear remote.
With the cost of living crisis rated as 'extreme', the RBA has spared borrowers further financial pain - for now. (Image source: Shutterstock.com)
It was arguably the least surprising interest rate decision the Reserve Bank of Australia (RBA) has made but it came with caveats that borrowers will dread.
A panel of 36 experts all correctly predicted that the official cash rate would be kept at 4.35 per cent at the RBA Board’s meeting that concluded on Tuesday (7 May).
The decision to keep rates on hold for the third time in a row came at a time when the cost of living pressure experienced b…
