The firm favourite comes in as RBA holds cash rate steady on Melbourne Cup Day
The Reserve Bank of Australia (RBA) kept interest rates on hold at its Melbourne Cup Day interest rate board meeting.
The RBA has placed its bet on inflation proving sticky enough to warrant a pause in any further rate cuts. (Image source: Neale Cousland/Shutterstock.com)
The RBA has opted for the safe bet on Melbourne Cup Day, leaving interest rates on hold.
Borrowers, who have not dealt with a rate rise for two years, are now looking to the final rates announcement of the year on 9 December for one last chance at a 2025 mortgage repayment reprieve.
A 4 November rate cut was at long odds, deemed before the RBA Board decision to be a less than 10 per cent chance.
While borrowers may feel aggrieved at missing ou…
