The Reserve Bank of Australia (RBA) today decided to increase the official cash rate, by 0.25% to 2.60%.
In considering the size of the increase, the RBA board appears to be continuing to focus on reducing inflation against the backdrop of falling house prices in many areas of Australia, a weakening Australian dollar and concerns of a global recession.
If you’d like to have a chat about what today’s news means for you and your finances, please don’t hesitate to get in touch.