No Rise in Interest Rates

No Rise in Interest Rates

Minutes from the Reserve Bank of Australia’s July board meeting suggested that the current cash rate we are experiencing will remain on hold for an extended period.
The RBA has maintained its medium-term tightening bias, although heightened concerns about the global economy and financial markets, and the run of softer domestic high frequency data, have provided the RBA with “more time to assess the likely strength of inflationary pressures in Australia.”
For the foreseeable future, there will be no interest rate rise.