The Australian share market rose 0.4% or 31.7 points after The RBA’s decision to keep the cash rate unchanged at 4.1pc, after numerous interest rate increases since May last year.  The still high interest rates are working to establish a more sustainable balance between supply and demand in the economy and holding the current cash rate will provide more time to assess the real impact the rate rises have had on the economic outlook.

However, inflation is still too high and will remain so for some time yet continuing to make life difficult, eroding savings, hurting household budgets and making it harder for businesses to plan and invest.

The Board is still expecting the economy to grow as inflation returns to the 2–3 per cent target range and we, at Proxima Financial Planning, will keep you informed of any developments that may impact your investments.

Please contact us below if you have any further queries or concerns.

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