Subscribe and set 🔔 » https://7news.link/YTSubscribe | Mortgage holders can breathe a sigh of relief with the Reserve Bank of Australia holding steady on interest rates for a third consecutive month. The RBA board met on Tuesday and decided against hiking the cash rate, leaving it at 4.1 per cent. Inflation, one of the RBA’s key measures when making rates decisions, softened to 4.9 per cent in July. That’s still higher than the central bank’s target of between 2 per cent and 3 per cent, meaning further hikes are still possible.
September’s decision marks the last with Philip Lowe as Governor of the RBA.
His deputy Michele Bullock will take the reins later in the month.
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