RBA interest rates live updates: Central bank delivers third rate cut to help struggling homeowners
After surprising almost everyone by showing signs of caution last month, the central bank has today said the time is right to deliver another lot of rate relief.
Scroll down for all the latest updates.
Key Events
How low can the RBA go?
Even as homeowners look set to score another boost to the family budget, economists have said borrowers must rein in expectations of more relief this year.
Only one or two more cuts were thought to be likely in this cycle.
“The RBA is expected to cut the cash rate 25 basis points to 3.6 per cent, however improved spending, firmer activity, and persistent inflation suggest this could be the last cut of the current easing cycle,” Judo Bank’s Warren Hogan said.
He said that cash rate would be close to neutral — where the RBA is not applying the brakes or the accelerator.
“Strong domestic activity data and some concerning inflation indicators in recent weeks are consistent with the RBA having been cautious,” Mr Hogan said.
“We expect the RBA to be on hold for an extended period after this week’s predicted rate cut.”
