RBA

The Reserve Bank this week hiked the official cash rate much more than expected, by 50 basis points to 0.85 per cent.

The Reserve Bank this week pulled the trigger on interest rates as expected, hiking the official cash rate by 25 basis points to 0.35 per cent.

Soaring new inflation figures this week were higher than expected, with consumer prices rising at a rate not seen since the GST came in, meaning an interest rate rise could come as soon as May.

The Reserve Bank has long been staunch on interest rates remaining where they are until 2024 at least, but economists are starting to disagree.

The Reserve Bank governor Philip Lowe says he’s confident the Australian economy will bounce back strongly from the extended eastern states lockdowns and insists interest rates will remain low for years to come.

The Reserve Bank has kept the official cash rate on hold again this month, but it hasn’t stopped banks from slashing variable mortgage rates to try and lure customers.

As expected, the Reserve Bank has kept the official cash rate at the record low of 0.1% at its August meeting.

A better-than-expected unemployment result in May has brought forward the expectation of interest rate rise.