Interest rates kept on hold, Cup Day cut also in doubt
Borrowers hoping for an interest rate reprieve will have to wait a while longer, perhaps even until 2026.
Property prices are already entering another boom phase, which an interest rate cut would've exacerbated. (Image source: T. Schneider/Shutterstock.com)
Interest rates have been kept on hold, with lingering inflation, a tight labour market and surging property prices forcing the Reserve Bank of Australia’s hand.
The official cash rate will sit at 3.60 per cent until at least the first Tuesday of November, when prospects of a Melbourne Cup Day rate will be in the balance.
The latest inflation data saw Australian consumer prices rose at the fastest annual pace in a year in August, reducing the li…
