Fast-falling inflation points to interest rate relief
The prospect of further interest rate hikes is receding into the rear view mirror, with inflation tumbling rapidly and the effect of 13 previous rate hikes taking their toll on borrowers' spending patterns.
The era of the most rapid rate of interest rate increases on record appears to be drawing to a close. (Image source: Shutterstock.com)
The sharpest annual drop in inflation in recent memory has all but ensured interest rates will be kept on hold when the Reserve Bank of Australia meets next Tuesday (6 February).
The official Consumer Price Index readings released on Wednesday (31 January) showed that annual inflation has nearly halved in just 12 months.
Inflation rose 0.6 per cent in the December 2023 quarter and 4.1 per cent over the 12 months, down from an annual rate 5.4 pe…
