The Reserve Bank of Australia has rised the cash rate various times since May 2022 ultimately home loan rates rising across the country. Increasing interest rates mean huge problem on million of Australian household budgets making it difficult for repayments of mortgage.
It is Million dollar questions for every Australian citizen when will interest rate fall down. There is prediction interest rate will fall again in 2024 on the progress of big four banks in Australia.
For august big four banks predicted that cash rate was likely to increase in august 2023.
The latest cash rates increase due to result of higher inflation. If inflation decrease the RBA will pause the cash rate eventually. There is no hard and fast rule for RBA to change cash rates it depends on economic conditions.
This post was last modified on 25.08.2023 13:56
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