RBA finally hits pause button on interest rates
The Reserve Bank of Australia (RBA) has announced that the official cash rate will remain at 3.6 per cent in April, ending almost a year of constant interest rate rises, but the respite is almost certainly temporary.
Interest rates have been kept on hold in April but the RBA is still forthright in saying more hikes are likely soon. (Image source: Shutterstock.com)
Australian borrowers have finally been given a reprieve from almost a year of interest rate hikes.
The Reserve Bank of Australia (RBA) Board has just announced that it has decided to leave the official cash rate unchanged at 3.60 per cent.
In making the announcement, the RBA gave borrowers cause to rein in their joy, saying it expects more interest rate rises in coming months as it contends with inflation that is still high, at 6.8 per cent.
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