RBA raises cash rate
Australia’s official interest rate is now 4.10% after the Reserve Bank of Australia lifted the cash rate by 25 basis points following today’s board meeting.
The decision comes after the Australian Bureau of Statistics’ monthly consumer price index increased 6.8% year-on-year in April from 6.3% in March.
With inflation unexpectedly spiking, the central bank believes more cash rate rises are necessary to slow the economy further.
Contact me if you’d like to discuss how the RBA’s decision impacts your situation.
Read full statement here.
Kind regards, Shahmir Naqvi 0401 265 254
Contact Us Mango Financial Group Ground Floor, 470 St Kilda Road Melbourne VIC 3004 0401 265 254 | View Website credit representative number: 542854
Disclaimer: The information provided on this site is on the understanding that it is for illustrative and discussion purposes only. Whilst all care and attention is taken in its preparation any party seeking to rely on its content or otherwise should make their own enquiries and research to ensure its relevance to your specific personal and business requirements and circumstances.
